The Company is first due to seek approval from Hong Kong's listing committee next week, on Thursday, according to two other separate sources with direct knowledge of the matter.
According to Chinese media reports, internet giant Alibaba is ready to start pre-IPO roadshows in Hong Kong next week.
A report by news agency Reuters, citing unnamed sources, Friday said that the sales process would likely begin in Hong Kong from November 25.
Alibaba is thought to have submitted their application discretely in June with hopes of listing in August, however the unrest in Hong Kong forced the company to postpone the process.
Despite months of ongoing pro-democracy protests, Hong Kong's stock market has chugged along.
The result beat analysts' expectations of revenue of 116.8 billion yuan, according to IBES data from Refinitiv.
If both the Alibaba deal and the pending Saudi Arabian Aramco oil company deal succeed, they could provide a shot in the arm for moribund capital markets, where investors have proved increasingly sceptical of the valuations sought by much-hyped tech startups such as ride-hailing giant Uber Technologies, which has fallen 34 percent since its float in May. The death of a student on Friday who fell from a parking lot is expected to spark fresh protests and fuel anger at police.
The deal is now being led by China International Capital Corp (CICC) and Credit Suisse.
The company on Monday will wrap up its most important sales event of the year - Singles' Day - offering further clues on the health of consumption. However, it is lower than the US$20 billion it had aimed to raise initially.
Sources have said the investment banking syndicate will be put in place after Monday. Major investment banks led by Morgan Stanley and Goldman Sachs are now jockeying for the most senior positions behind those two.
The company reported last week that second-quarter revenue increased by 40 per cent to 119.02 billion yuan (S$23.1 billion), from 85.15 billion yuan in the same quarter past year.