THE New York Stock Exchange is the front-runner to win the high-profile listing for the shares of Chinese e-commerce giant Alibaba Group Holding Ltd., according to sources familiar with the matter.

    The listing is expected to be the largest ever in the United States by a Chinese company and would be a major prize for the iconic exchange and another setback for its rival, NASDAQ OMX Group Inc.

    A final deal hasn’t been signed, but Alibaba has indicated to people involved in the competition for the listing that it prefers NYSE Euronext, which is owned by Atlanta-based IntercontinentalExchange Group Inc.

    Alibaba said Sunday that it had decided to list its shares in the United States rather than Hong Kong, ramping up the speculation about which of the two big American exchanges would secure the coveted assignment. The Chinese company is expected to raise as much as US$15 billion in its initial public offering (IPO), making it one of the largest ever in the United States.

    Reuters quoted unnamed sources as saying Tuesday that Alibaba will hold the kickoff meeting for its planned U.S. initial public offering March 25. (SD-Agencies)