Shein is selling 280 million shares between HK$47.60 and HK$49.50 per share, the filings showed, valuing it at close to $27 billion at the top of that range.
The valuation has dropped sharply from earlier private fundraising rounds that valued Shein at $98.2 billion in 2022. The company was valued at $64 billion in 2023 and April 2024.
The company will announce the final price on August 31 and start trading on Sept. 1.
Illustration of the Shein section on the 6th floor of the BHV Marais, Bazar de l Hotel de Ville in Paris, France, on Aug. 5, 2026. Photo by Hans Lucas via AFP
Known for selling $5 dresses and $10 jeans to shoppers in about 160 countries, Shein had first sought an IPO valuation of $30 billion to $40 billion when investor meetings ahead of the IPO kicked off.
