According to two sources who told news agency Reuters, e-commerce giant Alibaba Group Holding Ltd would be eyeing a New York listing after talks with regulators regarding a Hong Kong IPO broke down. 

One of them, a company source who was familiar with the Alibaba-regulators discussions, said, "We've come to the end of dialogue with Hong Kong and we're pivoting to the US to start the listing process." The source did not disclose the reasons why talks with the Hong Kong regulators broke down. 

It was not also clear which bourse in New York would Alibaba be listing its initial public offering. However, another company source had said that the Chinese company has already started its New York IPO plans and had engaged with some US law firms. Alibaba  would also be hiring banks soon to help manage the listing. The source refused to be named as the source was not authorized to talk in public about the IPO plans.

When asked for comment, officials both in Alibaba and the Hong Kong bourse refused to provide statements.