Chinese internet giant Alibaba has filed documents for a public share sale in the US, which is widely expected to be one of the biggest in history.
In its filing, the company said it was seeking to raise $1 billion (£589 million). But that figure is seen just as an estimate to calculate various fees. Analysts expect it to raise more than $15 billion and top Facebook's share sale. Alibaba did not disclose details of the number of shares it intends to sell or their price range. It also did not reveal which US exchange - the Nasdaq or New York Stock Exchange - it is looking to list its shares on. Founded 15 years ago by Jack Ma, the firm has been a dominant force in e-commerce in China and is now the biggest online retailer in the country. It has the potential to become a true global e-commerce powerhouse, according to a news agency.
