Shein targets $25 billion to $28 billion valuation in Hong Kong IPO
What's new: The range is below the $30 billion to $40 billion Shein sought earlier this month and far under its 2022 peak valuation.
Fast-fashion retailer Shein is targeting a valuation of about $25 billion to $28 billion for its planned Hong Kong initial public offering, a sharp step down from earlier expectations as investors question its growth outlook. Reuters previously reported the Singapore-headquartered company aimed to launch the long-awaited listing later this week. One person familiar with the matter said the range reflects the marketing price band for the deal. Shein, founded in China in 2012, had been seeking a $30 billion to $40 billion valuation at the start of August after beginning investor meetings. The new target is also far below the $98.2 billion valuation it reached in a 2022 fundraising round. Under its IPO filing terms, a lower valuation could force Shein to issue extra shares to some pre-IPO investors.