All good things come in threes: After New York and London, the cheap fashion retailer Shein wants to go public in Hong Kong
The Chinese online retailer plans to start trading at the beginning of September. The path to this was difficult, and Shein had to cancel two planned stock exchange listings. UBS is also on board as one of the anchor investors.
Shein, a Chinese online retailer, plans to start trading on the Hong Kong stock exchange on September 1, aiming to raise $1.8 billion. The company, valued at nearly $27 billion, has faced challenges, including two failed IPO attempts in New York and London, due to concerns over its close ties with China. Shein has 273 million active customers worldwide and promises fast fashion, producing cheap clothing based on trends and shipping globally.
The company's listing will include anchor investors such as UBS, Boyu Capital, and Tencent, who have committed to holding their shares for six months.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
