Shein launched Hong Kong IPO at up to $27 billion valuation

Shein opened its Hong Kong initial public offering on Monday, seeking a valuation of as much as $27 billion in what would be the city’s biggest new share sale of 2026. The Singapore-headquartered fast-fashion company is selling 280 million shares at HK$47.60 to HK$49.50 each, for proceeds of up to HK$13.86 billion, or about $1.77 billion. Final pricing is scheduled for Aug. 31, with trading targeted for Sept. 1. The valuation is far below Shein’s roughly $98.2 billion private-market peak in 2022, reflecting weaker growth, rising costs and tougher market conditions. Cornerstone investors include Boyu, Tiger Global, General Atlantic, Tencent, Greenwoods, Taikang Life and UBS Asset Management.