Alibaba's IPO likely one for the record books

Alibaba Group Holding Ltd, the e-commerce company whose fortunes have surged along with China's economy, plans a US initial public offering that may also claim the global record.

Alibaba is seeking a valuation of up to $162.7 billion, more than 95 percent of the Standard & Poor's 500 Index, as it enters the IPO's final stages, according to Bloomberg.

The IPO would be the largest ever in the United States, exceeding the $18 billion IPO of Visa Inc in 2008.