Alibaba Plans U.S. IPO Later This Year: Report

Alibaba Group Holdings Ltd., China's biggest e-commerce company, has begun preparing for an initial public offering in the U.S. this year and has hired Morgan Stanley (NYSE:CREDMS) and Credit Suisse Group AG (NYSE:CS) as underwriters, China Internet platform Sina reported on its website, citing investment banking sources.

The company has said it is weighing a filing either in the U.S. or Hong Kong. Alibaba told Sina it hasn't yet decided on a location for the IPO filing and underwriters had not been selected.