Institutional source: T-Head valuation at USD 20 billion to USD 30 billion

Shenchao TechFlow reported that on November 10, Alibaba announced this evening that it intends to spin off its wholly-owned subsidiary T-Head (Shanghai) Technology Co., Ltd. for a standalone listing on the Main Board of the Hong Kong Stock Exchange. A professional institutional investor said in an interview that T-Head is valued at USD 20 billion to USD 30 billion. Earlier media reports said T-Head plans to pursue an IPO in Hong Kong next year, with fundraising of USD 2 billion to USD 3 billion. JPMorgan analysts estimated in January this year, using a rough comparable-company analysis, that its potential valuation was between USD 25 billion and USD 62 billion. (Jin10)

Source: Shenchao TechFlow