China's Alibaba Group aiming to raise $1 billion in IPO

San Francisco: China's Alibaba Group is aiming to raise $1 billion in a long-awaited IPO likely to have ripple effects across the Internet.This filing sets the stage for the technology industry's biggest initial public offering since short messaging service Twitter and its early investors collected $1.8 billion in its stock market debut last fall.

For now, Alibaba isn't specifying how much stock will be sold in the IPO or setting a price range. Those details will emerge as the IPO progresses, a process likely to take three to four months to complete before Alibaba's shares begin trading on the New York Stock Exchange.