Shein Targets September 1 IPO With Lowered Valuation

Shein is targeting September 1 for its initial public offering, though the listing may occur a few days later. This date follows a previous target of August 28. The online fast-fashion retailer is now seeking a valuation between US$26 billion and US$27 billion.

This current target represents a significant decrease from the US$100 billion valuation the company reached during private fundraising in 2022, as well as a reduction from its initial IPO target of US$30 billion to US$40 billion. The company attributes the valuation drop and scheduling delays to slower growth and rising costs, which have reduced investor appetite.

UBS Group's asset management arm is among the cornerstone investors committed to the offering. The bank has agreed to purchase a set amount of shares subject to a six-month lockup period.