Shein is going public in the Hong Kong stock exchange on Sept 1st, valuing the company at around $27 billion
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After much speculation, Shein is finally launching its Hong Kong IPO, with shares trading starting September 1st. According to Reuters, the company is set to raise up to $1.8 billion ($13.86 billion in Hong Kong dollars), which would value the company at around $27 billion, a fraction of its peak 2022 valuation.
The news comes after years of stalled attempts to list on the New York and London stock exchanges. Those plans ran into regulatory hurdles, including concerns around supply-chain transparency and data ownership in the U.S., while China’s securities regulator did not approve the proposed London listing. Hong Kong ultimately became the apparent solution, allowing Shein to list closer to its Chinese regulatory base while gaining access to international investors.
But the tailwinds seem to have changed for a company that, at its peak, was valued at nearly $100 billion.
