Alibaba to file $16bn IPO next week - sources

Hong Kong - Chinese e-commerce giant Alibaba Group Holding is expected to file the prospectus for its US initial public offering next week, sources said on Wednesday, moving closer to what could be the biggest-ever listing by a technology firm.

Alibaba's documents could be filed as soon as Monday, added the sources, who couldn't be named because the plans aren't yet public. The IPO could be worth more than $16bn, surpassing the previous record for a technology share sale set by Facebook in 2012, Reuters previously reported.

Alibaba had no comment to make on its IPO filing, a spokesperson said.