ALIBABA Shuns NASDAQ; To List Shares On NYSE

Once the eagerly awaited initial public offering Alibaba Group Holding Ltd. is launched, shares will be listed on the New York Stock Exchange, according to a news report. Both the NYSE and Nasdaq actively sought the listing since the middle of last year, according to earlier reports. Alibaba's estimated $168 billion would make it the third-largest tech company listed in the Big Board, according to Bloomberg news service, which broke the news. Alibaba's stock offering, announced in May, could become the largest IPO in history, with estimates ranging to $20 billion. With an expected ticker symbol of BABA, the stock may attract sheep.