Alibaba might list only in Hong Kong

China’s biggest e-commerce company will likely abandon New York.

Alibaba Group’s IPO will probably be the biggest this year. It is expected to list in the final quarter and its IPO could be valued at US$60 billion to US$70 billion. Alibaba has not yet appointed banks to run the listing process and has made no final decision on its listing venue.

Analysts said nothing is absolutely definitive and Alibaba is running a very secretive process, but everything they are planning for is Hong Kong related.