Fast fashion giant Shein launches up to US$1.8bil Hong Kong IPO
The long-awaited float comes as slowing revenue growth, weaker earnings and shrinking margins weigh amid tighter regulatory scrutiny.
Hong Kong-based fast fashion giant Shein announced on Monday its intention to launch a Hong Kong Initial Public Offering (IPO) on August 31, with the aim of raising up to US$1.8 billion. The company plans to sell 280 million shares, priced between HK$47.60 and HK$49.50 per share, and aims to debut on September 1. Shein's IPO valuation currently stands at up to US$26.81 billion.
The online retailer, which sells affordable clothing, such as US$5 dresses and US$10 jeans, to customers in approximately 160 countries, recently posted a US$99 million quarterly loss due to the US scrapping a small-package duty exemption. This loss further highlights the challenges faced by Shein, as slowing revenue growth and weakened core earnings have raised concerns about the impact of higher trade costs, stricter regulatory scrutiny, and growing competition within the global e-commerce industry.
Written by urgent.news from Free Malaysia Today'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.
- Hong Kong homebuyers snap up units at The Sterling as value-focused demand deepens scmp.com
- Hong Kong races to match Singapore’s tax break to lure global fund managers e.vnexpress.net
- Fast fashion giant Shein launches up to US$1.8bil Hong Kong IPO freemalaysiatoday.com
- Alibaba proposes Hong Kong share placement worth US$10 billion businesstimes.com.sg
- Why Korean companies flock to Hong Kong to issue digital bonds koreatimes.co.kr
- Alibaba proposes Hong Kong share placement worth $10 billion brecorder.com
- Alibaba proposes Hong Kong share placement worth $13 billion straitstimes.com
- Alibaba proposes Hong Kong share placement worth $10 billion investing.com
