Shein aims for Sept. 1 IPO, sources say
Shein aims to launch its Hong Kong initial public offering on Monday, according to a source familiar with the matter, and is targeting a listing on Sept. 1, two other sources said, slightly later than previously planned. While Sept. 1 is the target date, the listing could happen a few days later, one of the sources said. Reuters reported last week that Shein had been aiming to list on August 28.…
Shein plans to launch its Hong Kong initial public offering (IPO) on September 1, according to sources familiar with the matter, said two additional sources. The target date is slightly later than initially planned. While September 1 is the anticipated date, the company may list a few days later, one source added. Reuters previously reported that Shein aimed to list on August 28.
The delay in the IPO, first reported by the South China Morning Post, comes as the company's growth has slowed and costs have risen, dampening investor interest. The online fast-fashion retailer was once seen as a disruptive challenger to established brands like H&M and Zara due to its fast supply chain and low prices. Among the key investors in the IPO is UBS Group's asset management division, which would be investing in Shein for the first time, according to a fourth source.
A spokesperson for the Swiss bank did not comment. Cornerstone investors agree to purchase a set amount of shares before the IPO and commit to a six-month lockup period.
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- Shein aims to IPO on September 1, sources say investing.com
- Shein aims for Sept. 1 IPO, sources say koreatimes.co.kr
