Business & Finance

Shein seeks up to $27 billion valuation in Hong Kong IPO

The fast-fashion retailer aims to raise as much as $1.77 billion after earlier listing attempts in New York and London stalled.

Updated Aug 24, 2026 · 04:20 UTC2 reports

The short version

Shein is launching an initial public offering in Hong Kong, offering 280 million shares to raise up to HK$13.86 billion ($1.77 billion).
The target valuation of nearly $27 billion marks an approximate 70% decrease from its 2022 private peak valuation of $100 billion.
The listing follows regulatory resistance in the United States and the United Kingdom amid scrutiny over supply chains and trade policy shifts.
Final pricing will be determined on August 31, ahead of the planned trading debut on September 1.

Shein is offering 280 million shares priced between HK$47.60 and HK$49.50 each, targeting a valuation close to $27 billion at the upper bound.[BBC News · The Guardian]
Trading on the Hong Kong stock exchange is scheduled to begin on September 1, following final pricing on August 31.[BBC News · The Guardian]
The company's target valuation represents a steep decline from its $100 billion valuation achieved in a 2022 private funding round.[BBC News · The Guardian]
Shein posted a $99 million loss during the first three months of the year, down from a $395 million net profit during the same period a year earlier, following slower sales and the removal of a US small-package import duty exemption.[BBC News]
The Hong Kong listing follows regulatory barriers that disrupted previous efforts to float shares in New York and London.[BBC News · The Guardian]
The initial public offering is backed by Goldman Sachs, Morgan Stanley, and JP Morgan.[BBC News]

The final share price and exact valuation will depend on investor demand when pricing is finalized on August 31.[BBC News · The Guardian]
The long-term impact of US tariff policy shifts and ongoing regulatory scrutiny over supply chain practices remains unresolved.[BBC News · The Guardian]