Shein valued at $26.5B in Hong Kong

Shein, the online fashion retail company, announced that its initial public offering (IPO) price in Hong Kong will be approximately HKD 48.56 per share, valuing the company at around USD 26.5 billion. The offering aims to raise about USD 1.73 billion and follows four years of preparations for listing on the New York and London stock exchanges. The move has garnered strong investor interest, with the order book fully covered at a value of up to USD 1.8 billion. Currently, Shein faces a slowdown in revenue growth and a contraction in profit margins. The company plans to use about 80% of the proceeds to develop technology and expand its brand, with expectations that revenue growth will align with a modest 1.1% increase in the first quarter.

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