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Shein targets US$35b valuation for Hong Kong IPO next week

The fast-fashion retailer is seeking to raise up to US$2.8 billion and aims to finish the offering by the end of August.

Reported · Written up by our desk · Asia

Shein Global Holdings plans to begin taking investor orders for a Hong Kong initial public offering as soon as next week, targeting a valuation of US$35 billion, according to sources cited by the South China Morning Post.

The company, headquartered in Singapore and founded in China, is aiming to raise as much as US$2.8 billion and began gauging investor demand last week, the outlet reported. It also intends to complete the IPO process by the end of the month, though the timing and deal size could still change.

Shein’s target valuation would be a sharp shift from earlier expectations, the report said. It would represent a steep drop from a peak expected valuation of US$100 billion in 2022 and declines from earlier private targets of US$40 billion to US$50 billion.

The outlet added that Shein previously sought to list in New York or London, but those plans were derailed by regulatory scrutiny in the US and Europe related to supply chain practices and tax structures.

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