WASHINGTON (dpa-AFX) - Fast-fashion giant Shein is preparing to make its long-awaited debut on the Hong Kong Stock Exchange on September 1, targeting a valuation of up to $26.8 billion.
The listing follows failed efforts to go public in the US and London, where the company faced regulatory scrutiny over its business and supply-chain practices.
Shein said it plans to offer nearly 280 million shares at between HK$47.60 and HK$49.50 each. At the top of the range, the IPO would raise about $1.77 billion for the company and value it at $26.8 billion. Goldman Sachs, Morgan Stanley and JPMorgan are backing the offering.
The valuation is sharply below Shein's $100 billion valuation in 2022, reflecting slower growth and rising costs. The company reported a $99 million net loss in the first quarter, compared with net income of $395 million a year earlier.
Shein has also faced pressure from changes to US import rules, including the removal of the de minimis exemption for small packages, which had supported its rapid US expansion. Higher tariffs could increase prices and narrow its cost advantage over rivals such as H&M and Primark.
Despite the challenges, Shein had 281 million active customers as of March 2026, up more than 16 percent year over year.
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