The Chinese e-commerce giant has sent files to apply for a listing on the Hong Kong Stock Exchange, news portal Bloomberg reported on Thursday.
However, Alibaba made no comment on the report.
The Hong Kong Exchanges and Clearing Limited also declined to comment on the report, said the news outlet The Paper.
The move aims to raise $20 billion, which would make it the largest stock offering in Hong Kong since 2010, and it would see Credit Suisse and China International Capital Corp Ltd be in charge of the listing, said Bloomberg.
The listing application will be officially submitted to the Hong Kong Exchanges and Clearing Limited in next weeks.
The business giant created history with an initial public offering of $25 billion on the New York Stock Exchange in 2014, when the initial price was $68 per share. On June 12, the company per share price closed at $160.04.