SHEIN launches Hong Kong IPO at up to $27 billion valuation
Online fashion retailer SHEIN has begun bookbuilding for its Hong Kong IPO, with the offering potentially valuing the company at up to $27 billion. Trading is expected to commence on September 1.
Online fashion retailer SHEIN has initiated the bookbuilding process for its initial public offering on the Hong Kong Stock Exchange. The company is offering approximately 280 million Class B shares at a price range of HK$47.60 to HK$49.50 each. The offering aims to raise up to HK$13.86 billion (US$1.77 billion).
At the upper end of the price range, SHEIN would be valued at close to US$27 billion. This valuation is significantly lower than its peak private-market valuation of US$98.2 billion recorded in 2022.
Cornerstone investors participating in the IPO include Boyu Capital, Tiger Global, General Atlantic, and Tencent. SHEIN operates as one of the largest online fast-fashion retailers globally, competing with other major players in the e-commerce apparel market.
The company's shares are scheduled to begin trading on the Hong Kong Stock Exchange on September 1. The IPO proceeds are expected to support SHEIN's global expansion efforts and enhance its competitive position.