Shein’s Hong Kong IPO Prices Shares, Company Valued at $26.5 Billion
Key Details and Market Context of Shein's IPO
By Selena Li and Kane Wu
IPO Pricing and Valuation
HONG KONG, Aug 27 (Reuters) - Online fast-fashion retailer Shein is set to price its Hong Kong initial public offering near the midpoint of its marketed range, raising $1.7 billion and valuing the company at about $26.5 billion, two people with knowledge of the matter said.
Share Price and Fundraising
The company is set to price the deal at HK$48.56 a share, near the midpoint of its HK$47.60 to HK$49.50 range, the people said, raising about HK$13.6 billion ($1.73 billion).
Comparison to Previous Valuations
The valuation would be about one-quarter of the nearly $100 billion private market peak Shein reached in 2022, and well below the $66 billion valuation it secured in a 2023 fundraising round.
Company Background and IPO Journey
Shein, which is headquartered in Singapore and was founded in China, launched its Hong Kong IPO on Monday.
The sources spoke on condition of anonymity as the information is not publicly available. Shein did not respond to a request for comment.
Previous Listing Attempts and Market Challenges
The IPO follows attempts over the past four years to list in New York and London. Shein, known for selling $5 dresses and $10 jeans in about 160 countries, has faced regulatory challenges and business pressure in its key U.S. and European markets.
Additional Information
($1 = 7.8401 Hong Kong dollars)
(Reporting by Selena Li and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee, Jacqueline Wong and Christopher Cushing)
