Industry insiders: Pingtouge's valuation is 20-30 billion USD

This evening, Alibaba announced its plan to spin off its wholly-owned subsidiary Pingtouge (Shanghai) Technology Co., Ltd. for an independent listing on the main board of the Hong Kong Stock Exchange. A professional investment institution representative, in an interview, provided a valuation for Pingtouge at between 20 billion and 30 billion USD.

Previously, according to media reports, Pingtouge plans to go public in Hong Kong next year, with a fundraising scale of 2 billion to 3 billion USD. Analysts from JPMorgan had estimated its potential valuation earlier this January, roughly calculating it to be between 25 billion and 62 billion USD.