Fast-fashion retailer Shein is scheduled to list in Hong Kong this week, with trading expected to commence on Tuesday. This follows earlier attempts to launch initial public offerings (IPOs) in the US and London that did not proceed.
The Hong Kong debut is anticipated to value the company at approximately $27bn (£19.8bn), which is about a quarter of its highest private-market valuation. Shein plans to offer nearly 280 million shares, priced between HK$47.60 and HK$49.50, with an expectation to raise around HK$13.6bn.
Shein had initially sought a US listing in 2023, but withdrew plans due to pushback from the Securities and Exchange Commission over alleged labour malpractices and lawsuits. The Singapore-headquartered firm then explored a £50bn float in London, facing pressure from MPs regarding allegations of forced labour and human rights abuses in its supply chain.
The company reported a $99m loss in the first three months of this year, contrasting with a net income of $395m in the previous year. This comes as the retailer faces growing balance sheet and regulatory pressures, including a crackdown on a tax loophole that previously benefited e-commerce giants.