Shein seeks up to $1.77 billion in Hong Kong IPO at $27 billion value

Shein launched its Hong Kong initial public offering on Monday, aiming to raise as much as HK$13.86 billion, or about $1.77 billion, by selling 280 million shares at HK$47.60 to HK$49.50 each. At the top of the range, the online fast-fashion retailer would be valued at about $27 billion, far below its $98.2 billion private-market peak in 2022. The China-founded, Singapore-headquartered company plans to set the final price on Aug. 31 and begin trading on Sept. 1. The prospectus showed first-half 2026 revenue growth is expected to track the first quarter’s 1.1%, while margin pressure has intensified from new European import charges, pricing pressure and weaker Middle East demand tied to the Iran war.