Chinese e-commerce giant Alibaba Co has finally filed the necessary paperworks at the US Securities and Exchange Commission for its initial public offering (IPO) on Tuesday, paving the way for a possible largest IPO listing in the US history.

Alibaba did not initially mention how much it intends to raise its IPO in the 250-page document filed with the federal regulators, yet according to a report, the Chinese company is planning to put 12 percent stake on the market, which could amount between US $15 billion and US $20 billion.

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This could mean that Alibaba's IPO could surpass the US $18 billion debut recorded by Visa in 2008, which is the holder of the largest record, as well as the second largest debut recorded by Facebook at US $16 million.

Also, this will give the e-commerce company a market cap of US $168 billion, which is lower than Apple and Google but higher than Facebook, Amazon and eBay.

The huge figures are not surprising since Alibaba is one of the top three Internet operators in China. Based on its filing, the online company managed to pull in revenue worth US $5.6 billion and profit of US $1.4 billion last year.   

The gross sales that were gathered from its three largest sites - Taobao (its version of Amazon), Juhuasuan (a group buying site), and Tmall (works like eBay) - reached a total of US $248 billion.

Also, almost 20 percent of the company's business originates from mobile devices, meaning it has around 76 percent control of the mobile e-commerce in China, the world's second largest economy.

If the IPO expectations are met, Wall Street will benefit from the additional tech offerings.

Alibaba has not mentioned where it will host its IPO but Nasdaq and the New York Stock Exchange have earlier announced that they will be willing to host the listing.