Shein targets $27 billion valuation in Hong Kong IPO launch

Shein opened its Hong Kong initial public offering on Monday, seeking as much as HK$13.86 billion, or about $1.77 billion, in a debut that would value the fast-fashion retailer at roughly $27 billion. The company is selling 280 million shares at HK$47.60 to HK$49.50 each, with final pricing due Aug. 31 and trading set to begin Sept. 1. The float marks a steep reset from Shein's private-market valuation of $98.2 billion in 2022. Company filings pointed to weaker growth, rising costs and pressure from new trade charges and tighter regulatory scrutiny. Shein also said first-half 2026 revenue growth should track the first quarter's 1.1% pace, while margins are expected to slip slightly.