Fast-fashion retailer Shein is scheduled to debut on the Hong Kong stock exchange on 1 September, with a listing that would value the group at nearly $27bn. The company, headquartered in Singapore, secured Beijing’s approval last month for its initial public offering in Hong Kong.
Shein is offering 280m shares at a price range of HK$47.60 to HK$49.50 per share. The final price for the shares will be announced on 31 August. The company stated that funds raised from the IPO are intended to finance technological capabilities and enhance its international presence.
The current valuation marks a significant decrease from a private market peak of almost $100bn four years ago. This decline follows scrutiny over slowing growth, rising costs, and changing market conditions for the online retailer, known for selling affordable clothing in approximately 160 countries.