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 intends to hold its Hong Kong initial public offering on Monday, according to sources familiar with the situation. The company aims to list on September 1, though it could be a few days later, one of the sources added. Reuters previously reported Shein's intention to list on August 28. This delay, first reported by the South China Morning Post, stems from slower growth and mounting costs reducing investor enthusiasm for Shein.
Just a few years ago, Shein was viewed as a disruptive competitor to established retailers like H&M and Zara, thanks to its rapid supply chain and low prices. Notably, UBS Group's asset management division is among the main investors in this IPO, being a first-time investor for the Swiss bank, according to a fourth source. A spokesperson for UBS declined to comment.
Cornerstone investors commit to purchasing a specific number of shares before the IPO and are subject 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
