Shein Targets $27 Billion Hong Kong IPO on Sept. 1 After $100 Billion Peak Fades
Updated
Updated · BBC.com · Aug 24
Shein Targets $27 Billion Hong Kong IPO on Sept. 1 After $100 Billion Peak Fades
3 articles · Updated · BBC.com · Aug 24
Summary
HK$13.86 billion ($1.77 billion) is the maximum Shein aims to raise in its Hong Kong debut on Sept. 1, selling nearly 280 million shares at HK$47.60 to HK$49.50.
That price range would value the fast-fashion group at almost $27 billion, far below the $100 billion valuation it reached in a 2022 private fundraising round as sales growth weakened and costs rose.
A $99 million first-quarter loss, versus $395 million net income a year earlier, followed slower sales after Donald Trump removed a US duty exemption for small packages.
The listing comes after failed attempts in the US and London amid regulatory scrutiny, including questions over Shein's supply chain, forced-labor allegations and environmental impact.