The ultra-fast-fashion giant Shein confirms its stock market entry in Hong Kong in September
Founded in China and now based in Singapore, the company, which is regularly criticised for its production and consumption model, has 273 million customers worldwide, including 23 million in France.
Shein, a fast-fashion company founded in China and now based in Singapore, is set to list on the Hong Kong stock exchange in September. The company, which claims 273 million customers worldwide, including 23 million in France, is offering 280 million shares at a price between 47.60 and 49.50 Hong Kong dollars. According to Handelsblatt, this would value Shein at up to 26.81 billion dollars.
The company's initial public offering, or IPO, is expected to raise up to 1.77 billion dollars. The final offer price is to be determined on August 31, with trading set to begin on September 1. Shein has faced criticism for its production and consumption model.
Shein recently reported a quarterly loss of 99 million dollars, partly due to the loss of a US customs exemption for small packages and a 328 million dollar accounting change. The company is experiencing slower revenue growth, weaker core earnings, and shrinking margins.
Brief written by urgent.news from Le Monde Economie, Handelsblatt — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
