Shein pushes back Hong Kong debut to September amid delayed investor orders: sources
Fast-fashion retailer Shein Global Holdings has pushed back its Hong Kong market debut until September 1, after a small delay in taking investor orders for its initial public offering (IPO) at a reduced valuation, according to sources familiar with the matter. Shein plans to introduce multiple cornerstone investors, though most positions will be taken up by existing shareholders, the sources told…
Fast-fashion giant Shein has postponed its Hong Kong market launch to September 1, citing a slower-than-expected flow of investor orders for its initial public offering (IPO), sources reveal. The retailer, now valued at nearly US$30 billion, plans to enlist several cornerstone investors, primarily existing shareholders, while banks may inject their own funds.
Book-building is slated to commence on August 24, potentially marking a significant shift from the company's earlier August deadline. Initially targeting a valuation of US$30 billion or more, Shein's maximum listing valuation has now been capped at US$30 billion, a stark contrast to its peak valuation of nearly US$100 billion in 2022.
The decision comes amid sluggish revenue growth, deteriorating profitability, and regulatory hurdles, with Shein reporting a US$99 million loss in the first quarter of 2026, a sharp contrast to the US$395 million profit in the same period last year. The company's challenges also include the loss of a "de minimis exemption" in the US, which previously protected small packages from tariffs, and potential EU tariff waivers ending, both of which could impact Shein's future growth.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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