Shein aims for almost $27bn valuation in 1 September stock market debut

Fast-fashion retailer Shein is set to debut on the Hong Kong stock market on September 1st, aiming to raise up to HK13.86bn (£1.3bn; $1.77bn). The company plans to offer nearly 280 million shares, with the price range between HK$47.60 and HK$49.50 per share. If the higher end of the price spectrum is reached, Shein's valuation could reach nearly $27bn.

This marks a significant drop from its $100bn valuation achieved during a private fundraising round in 2022, which can be attributed to weaker sales growth and increased costs. The much-anticipated IPO is a result of multiple failed attempts to list on the US and London stock markets due to regulatory challenges. Shein's headquarters are located in Singapore, but the company was originally founded in China.

The initial public offering (IPO) is backed by prominent Wall Street investment firms, including Goldman Sachs, Morgan Stanley, and JP Morgan. In July, Shein reported a quarterly loss of $99 million as its sales slowed following the US President's decision to remove an import duty exemption for small packages. This comes amidst ongoing uncertainty over the ongoing US-China tariff wars, which are currently on hold.