Fast-fashion retailer Shein is reportedly aiming to raise approximately $2 billion in its highly anticipated Hong Kong initial public offering this week. This figure includes existing shareholders potentially subscribing to around half of the shares.
The company is targeting a listing valuation of $26 billion to $27 billion. If successful, trading is expected to commence around the end of August or early September. However, sources indicate that these details, including the size of the offering, the final valuation, and the timeline, are still under discussion and remain subject to change.
Shein, which was founded in China but is now headquartered in Singapore, had previously explored listing in New York and London without success. Its valuation peaked at $100 billion in 2022 but had fallen to about $64 billion by its Series D+ funding round in 2023, due to factors like tariffs and competitive pressures from rivals such as Pinduoduo's Temu, which slowed its growth. Recent reports suggest a valuation closer to $25 billion to $30 billion for the current IPO attempt, with a September 1 target for market debut due to delayed investor orders.
