CHINESE e-commerce giant Alibaba Group Holding Ltd. is expected to file the prospectus for its U.S. initial public offering (IPO) next week, sources said yesterday, 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 US$16 billion, surpassing the previous record for a technology share sale set by Facebook Inc. in 2012.

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

    Alibaba reported Tuesday that it recorded 66 percent growth in sales to US$3.06 billion in 2013’s final three months, a timely lift for the company as it prepares for its highly anticipated public offering. Alibaba, which powers four-fifths of all Chinese online consumer shopping, recorded a doubling in net income to US$1.36 billion.

    Alibaba had experienced several quarters of slowing growth as its torrid pace of expansion cooled. It posted its slowest rate of growth in three quarters during the July-to-September period last year.

    Alibaba, founded 15 years ago by outspoken English teacher Jack Ma, has cornered the Chinese consumer market and expanded into everything from online auctions to messaging and payments.

    An IPO could arm the company as it tries also to dominate the nascent mobile shopping and social media arenas. (SD-Agencies)