Shein IPO priced at $1.7 billion, valuing retailer at $26.5 billion
What's next: Shein is due to start trading in Hong Kong on Tuesday after demand was fully covered but retail interest looked soft.
Shein is set to price its Hong Kong initial public offering at HK$48.56 a share, near the midpoint of its marketed range, raising about HK$13.6 billion, or $1.73 billion, and valuing the fast-fashion retailer at roughly $26.5 billion. The listing marks a sharp drop from Shein’s nearly $100 billion private-market peak in 2022 and its $66 billion valuation in a 2023 fundraising round. The Singapore-headquartered company had tried for years to list in New York and London before turning to Hong Kong. Reuters-reported details cited in the source articles said the overall book was fully covered, though analysts described retail demand as weak amid questions over Shein’s growth, margins, trade costs and rising competition.