In its filing, the company said it was seeking to raise $1bn. But that figure is seen just as an estimate to calculate various fees.

 

Analysts¹ expect it to raise more than $15bn and top Facebook's share sale.

 

Alibaba did not disclose details of the number of shares it intends to sell or their price range. 

 

It also did not reveal which US exchange - the Nasdaq or New York Stock Exchange - it is looking to list its shares on.

 

 

Founded 15 years ago by Jack³ Ma, the firm has been a dominant⁴ force in e-commerce in China and is now the biggest online retailer⁵ in the country.

 

While it has been a key player in the sector⁶ for many years, its filing gave investors⁷ the first glimpse at the firm's finances.

 

The firm generated revenues of 40.5bn yuan in the nine months to the end of December 2013, making a net profit of $2.9bn.

 

The documents reveal that last year, the value of all merchandise sold on Alibaba's various platforms was $248bn, with more than 11.3 billion orders placed.

 

The total value of merchandise sold on its platforms last year was more than that sold on Amazon and eBay combined. 

 

In a nod to the importance of smartphones, the firm said it was responsible for 72% of mobile commerce in China. 

 

That is important as Alibaba has been locked in competition recently with rival Tencent - China's largest internet firm - to attract mobile shoppers.

 

Analysts said there was likely to be keen interest in the share sale as investors hope the firm will be able to replicate⁸ its success in China on a global scale. 

 

"If it is able to transport that kind of power to outside China, it has the potential to become a true global e-commerce powerhouse," said Roger Entner, lead analyst² and founder⁹ of Recon Analytics.

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