Alibaba considered being raising as much as $20 billion. This is lined up a second blockbuster deal following 2014 record $25 billion floats in New York.
This deal has been considered to keep investing in technology - the first priority for China as growth flags and as the world's second-largest economy is locked in the mounting trade spat with the United States.
Alibaba is working with financial advisers on the offering and aiming to file an application confidently in Hong Kong as early as possible as rumours listed.
Chinese firms like SMIC chip makers also planning to delist their New York shares in favor of focusing upon its Hong Kong listing.
Sources with knowledge of Alibaba's plans cautioned that many details were not clear. One person with direct knowledge said that it was likely to be between $10 billion and $15 billion.
At $20 billion, Alibaba's deal would be the sixth largest follow-on share sale ever. It would rank behind NTT's 1987 $36.8 billion sale, Crisis era offerings of $24.4 billion and $22.5 billion from Royal Bank of Scotland and Lloyds Banking Group, and 20.7 raised by U.S insurer AIG in 2012.
Softbank Group. Alibaba's largest investor did not respond to a request for comment in this regard so far. Softbank founder and CEO Masayoshi Son is a close friend of Alibaba founder Jack Ma.
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