Shein aims to IPO on September 1, 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 September 1, two other sources said, slightly later than previously planned. While September 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…
Shein plans to hold its Hong Kong initial public offering on Monday, according to sources familiar with the situation, aiming for a September 1 listing, two additional sources revealed. Although September 1 is the intended date, the listing may occur a few days after, as stated by one source. Reuters had previously reported that Shein intended to list on August 28.
The postponement, initially reported by the South China Morning Post, transpires amid sluggish growth and escalating costs that have diminished investor enthusiasm for Shein. Notably, the online fast-fashion retailer was once considered a disruptive competitor to traditional brands like H&M and Zara due to its quick supply chain and low-cost offerings.
Among the key investors in the IPO is UBS Group's asset management division, which would be participating in Shein for the first time, as per a fourth source with direct information. A spokesperson for the Swiss bank did not provide any comment. Cornerstone investors commit to purchasing a predetermined quantity of shares prior to an IPO and agree to a lockup period.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Shein aims to IPO on September 1, sources say investing.com
- Shein aims for Sept. 1 IPO, sources say koreatimes.co.kr
