HONG KONG: Alibaba Group Holding Ltd. plans a listing hearing early next week and is seeking to raise as much as $15 billion in a Hong Kong share sale, people familiar with the matter say, moving ahead with the city’s largest first-time stock offering since 2010.

Asia’s largest company by market value is now preparing for a hearing as mandated by companies that list on the Hong Kong bourse, the people said, requesting not to be named discussing a private matter. Alibaba declined to comment in an email.