Alibaba discussing possible IPO ownership structure

China’s e-commerce giant Alibaba Group Holdings is in talks with the Hong Kong Stock Exchange to devise an alternative ownership structure over its shares, should it list soon, The Wall Street Journal reported, citing anonymous sources. Hong Kong doesn’t allow for a dual-class structure which enables companies to issue two classes of shares so founders and management can have more voting rights over hedge funds or shareholder activists. Hong Kong Stock Exchange and Alibaba are discussing “creative” ways to enable the company’s key owners to retain a certain level of control, according to the insiders. The IPO would value Alibaba at an estimated US$70 billion.