Snapchat parent company values itself at €20.6bn

Snap, the parent company of Snapchat, is listing its valuation at up to 22 billion US dollars (€20.6bn) as it prepares for the tech industry's biggest initial public offering (IPO) in years.

The firm said in a regulatory filing that the IPO is likely to be priced between €13.15 and €15.03 per share.

Had the IPO price matched the €28.87-per-share price obtained in its last round of financing, Snap would have a market value of about €28.19bn, based on the quantity of outstanding stock listed in its IPO documents.

Snap's highly anticipated IPO would be the largest since China's Alibaba Group went public in 2014.

It is expected to trade on the New York Stock Exchange under the SNAP ticker.