Fast-fashion giant Shein announces plans to raise up to HK$13.86 billion (£1.3 billion; $1.77 billion) when its shares commence trading on the Hong Kong Stock Exchange on September 1.
In a filing submitted on Monday, Shein disclosed an offering of approximately 280 million shares priced between HK$47.60 and HK$49.50.
At the upper end of the pricing range, the offering would value Shein at close to $27 billion (£19.8 billion), considerably below the $100 billion valuation achieved during its 2022 private funding round, reflecting slower sales growth and elevated operating costs.
The much‑anticipated listing follows previous failed attempts to debut on the US and London exchanges, which were thwarted by regulatory hurdles and intense scrutiny of Shein — a company headquartered in Singapore but originally founded in China.
The IPO is underwritten by major Wall Street firms, including Goldman Sachs, Morgan Stanley, and JPMorgan Chase.
In July, Shein reported a quarterly loss as sales decelerated following the removal of a US duty exemption for small packages by President Donald Trump.
The company posted a $99 million loss for the first quarter, compared with net income of $395 million in the same period the previous year.
This development coincides with lingering uncertainty over the US‑China trade dispute, which has been temporarily paused.
Since its founding in 2008, Shein has grown into one of the world’s largest fast‑fashion retailers, serving customers in over 150 countries.
The e‑commerce giant is renowned for offering ultra‑low‑priced apparel, supported by an extensive network of Chinese factories capable of rapidly producing items that follow emerging trends.
However, the fast‑fashion model has drawn criticism regarding its environmental footprint and alleged forced‑labour practices within its supply chain; Shein has previously asserted a “zero‑tolerance” policy toward forced labour.
Its earlier attempt to list on the London Stock Exchange was aborted after the company faced intense scrutiny over its refusal to disclose details of its supply‑chain practices.
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