Alibaba files IPO document in US

The logo of Alibaba Group is seen in Alibaba Group in Hangzhou, capital of east China's Zhejiang Province, March 25, 2014. [Photo/Xinhua]

China's e-commerce giant Alibaba has filed initial public offering (IPO) document to the US Securities and Exchange Commission (SEC) with plans to raise $1 billion, according to SEC information and well-informed sources.

Anouncing this in an internal communication to employees, founder and chairman of Alibaba Ma Yun said, "Becoming a listed company has never been our goal. It is a tactic and means to realize our mission."

Noting that being listed in the United States will expose Alibaba to chanlleges in the global financial market, Ma said,"Not all companies have the opportunities to face such global chanlleges. We are honored to be one of them."

Analysts here said the one billion US dollar is only an initial figures and that the actual amount could be much bigger.