Shein Targets $30 Billion to $40 Billion Hong Kong IPO

Shein is preparing for an initial public offering in Hong Kong as early as mid-August, targeting a valuation between $30 billion and $40 billion. This target marks a steep decline from the company's 2022 private valuation of $98.2 billion, a reset driven by investor pressure and a quarterly loss of $99 million.

The retailer's financial downturn follows a slowdown in sales after the United States removed import duty exemptions on small packages, alongside various accounting charges. To ensure post-listing share support, the company is adopting a conservative pricing strategy.

The Hong Kong listing follows unsuccessful attempts by the Singapore-headquartered firm to go public in New York and London. The China Securities Regulatory Commission approved the filing on July 10. Shein intends to use the capital raised from the IPO to fund technology investments, global brand-building, and corporate responsibility initiatives.