Alibaba’s global online commerce arm weighs US IPO, Bloomberg reports

May 4 (Reuters) – Alibaba Group Holding Ltd’s (9988.HK), international online shopping unit is exploring a US initial public offering, Bloomberg News reported on Thursday citing people familiar with the matter.

The e-commerce giant is in the early stages of consideration and the IPO’s size is yet to be determined, the report added.

The business group is in talks with banks that could potentially help prepare for the IPO next year, according to the report.

However, in an emailed statement to Reuters, Alibaba Digital Commerce Group said, “Currently, there is no IPO plan”.

In March, Alibaba said it was planning to split into six units and explore fundraising or listings for most of them, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises.

Analysts at the time had said the breakup could ease scrutiny over the tech giant whose sprawling business has been a target of regulators for years.

Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri

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