Shein’s valuation shrinks 70% to US$27 billion in Hong Kong IPO
Shein's valuation has fallen from a peak of nearly US$100 billion ahead of its Hong Kong trading debut on Sept 1.
Shein's valuation has plummeted 70% to US$27 billion following its Hong Kong IPO, reflecting a shift in business prospects. The fast-fashion retailer, known for its affordable clothing, aimed to raise up to US$1.8 billion in the IPO, which values the company at roughly half of its private market peak from four years ago. The decline in valuation is attributed to changing business prospects, with tariffs, increased competition, and rising costs clouding Shein's outlook.
Analysts believe global investor interest in Shein has cooled, leading to the reduced listing price. Despite the valuation cut, Shein aims to use the majority of the funds raised to enhance technology and expand its global presence. The company's co-founders retain 90% of voting rights, while the shares sold in the IPO carry one-tenth the voting rights.
The IPO is the largest new share sale in Hong Kong for 2026, surpassing Momenta Global's $751 million offering.
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