Alibaba, arguably the world’s biggest e-commerce company, filed paperwork on Tuesday that sets the stage for what could be the biggest initial public offering in U.S. history.
The Chinese tech behemoth filed with the Securities and Exchange Commission to raise $1 billion, but that figure is seen as just a placeholder. Analysts have said it could haul in more than the $16 billion Facebook raised in 2012.
Alibaba did not say which exchange it plans to list its shares on. Both Nasdaq and the New York Stock Exchange are competing for the plum assignment.
The filing on Tuesday also did not reveal what stock symbol Alibaba plans to use.