Shein launched Hong Kong IPO at up to $27 billion valuation
What's new: The retailer aims to raise as much as $1.77 billion, with trading set for Sept. 1 after its valuation fell about 70% from 2022.
Shein opened its long-awaited Hong Kong initial public offering on Monday, seeking up to HK$13.86 billion, or about $1.77 billion, in a deal that values the fast-fashion retailer at as much as $27 billion. The company is selling 280 million shares at HK$47.60 to HK$49.50 and plans to price the offering on Aug. 31 before shares begin trading Sept. 1. The valuation is roughly 70% below Shein's near-$100 billion private-market peak in 2022. The China-founded, Singapore-headquartered company said slower growth, rising costs and weaker margins have weighed on demand. Cornerstone investors include Boyu, Tiger Global, General Atlantic, Tencent, Greenwoods, Taikang Life and UBS Asset Management.
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Earlier in this story
- 14 hours agoShein targets $27 billion valuation in Hong Kong IPO launch
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- 22 hours agoShein launched Hong Kong IPO at up to $27 billion valuation
- 26 hours agoShein seeks up to $1.77 billion in Hong Kong IPO at $27 billion value