IPO: Chinese cheap fashion retailer Shein is pushing ahead with its Hong Kong IPO
The online fashion retailer is aiming to raise up to $1.77 billion, while weaker growth, falling margins and higher trading costs weigh on the group.
Shein, a Chinese online fast fashion retailer, is pushing forward with its Hong Kong IPO, aiming to raise up to $1.77 billion. The company began the subscription period for shares on Monday, offering 280 million shares at a price between HK$47.60 and HK$49.50. This would value Shein at up to $26.81 billion, with the issue price to be determined on August 31 and the listing scheduled for September 1.
The IPO comes as Shein faces challenges, including slower revenue growth, weaker core earnings, and shrinking margins, as well as a recent quarterly loss of $99 million.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
