Shein targets Sept. 1 Hong Kong IPO at $26 billion to $27 billion
What's new: The planned valuation is far below Shein's $100 billion 2022 private fundraising mark as growth slows and costs rise.
Shein is aiming to launch its Hong Kong initial public offering on Monday and target a Sept. 1 listing, a slight delay from the Aug. 28 timetable reported last week. The Singapore-headquartered fast-fashion retailer is seeking a valuation of $26 billion to $27 billion, well below the $30 billion to $40 billion range it had pursued earlier and far beneath the $100 billion valuation it reached in a 2022 private fundraising. Slower growth and rising costs have weakened investor appetite. UBS Group's asset management arm is set to join as a cornerstone investor, while some existing shareholders are also in talks to take cornerstone stakes. Public filings show Shein may offer payouts and more shares at lower conversion prices to early investors.