FT: Alibaba set to choose U.S. over Hong Kong for IPO

|By:, SA News Editor

Alibaba is "95% certain" to carry out its much anticipated IPO in New York rather than in Hong Kong, the FT writes, adding to previous reports that the Chinese e-commerce behemoth will float in the U.S.

Listing in New York would allow Alibaba to create a dual-class structure of stocks that would enable its founders and senior managers to retain their tight grip on the company. Hong Kong doesn't provide such an option, although it's mulling a change in rules.

Either way, the IPO is set to be one of the largest on record and should provide a large bonanza to Alibaba investors Yahoo (YHOO) and Softbank (SFTBF).