Alibaba Group Holding Ltd‘s 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.
Alibaba did not immediately respond to a Reuters request for comment.
The business group is in talks with banks that could potentially help prepare for the IPO next year, according to the report.
In March, Alibaba said it was planning to split into six units and explore fundraisings 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.
Reuters