Shein announces HK share offering

Shein plans to launch its initial public offering (IPO) on the Hong Kong Stock Exchange on August 19, with a valuation estimated between $30 billion and $40 billion. The company began marketing shares to investors this week. This offering comes amid a slowdown in revenue growth and weak core profits, coupled with concerns over increased costs and rising competition. Despite this, the company's valuation in 2024 is lower than its 2022 valuation of $98.2 billion. This decline has resulted in a quarterly loss of $99 million after the removal of American import concessions.

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