previously reported that the sale could raise between $10 billion and $15 billion.
Alibaba will stay listed in New York where it carried out an IPO in 2014, the source said. That is still theAlibaba declined to comment when contacted by CNBC. A spokesperson for the Hong Kong stock exchange was not immediately available for comment. With a Hong Kong listing, the Hangzhou, China-based firm will move closer to home, potentially giving investors in the world's second-largest economy more of a chance to buy shares.
Too late, Hong Kong is done for.
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