Shein's $1.8 Billion Hong Kong IPO Order Book Covered: Report
- Online fast-fashion retailer Shein has fully covered its Hong Kong IPO order book seeking up to $1.8 billion. Final pricing is due Aug 31, with shares debuting on Hong Kong's stock exchange on Sep 1.
- Shein launched its share sale at a valuation of up to $27 billion, representing a decline of nearly 70% from its 2022 private-market peak of nearly $100 billion. This reflects cooling investor appetite for fast-fashion retailers.
- The company faces investigations by the European Commission and the Federal Trade Commission. Previous fines in France and Italy for alleged greenwashing and fake discounts complicate Shein's path to a successful public listing.
- A Shein spokesperson stated the firm maintains 'high standards of corporate governance, transparency and accountability' regarding labor and environmental practices. This aims to reassure investors concerned about regulatory risks.
- Over the past four years, the retailer attempted to list in New York and London but faced criticism over environmental, labor, and governance standards. The current Hong Kong offering represents a critical milestone after previous setbacks.
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Shein's up to $1.8 billion Hong Kong IPO order book covered, sources say
Online fast-fashion retailer Shein's Hong Kong IPO book to raise up to $1.8 billion has been fully covered by investor demand, two sources said, bringing it closer to its long-awaited market debut amid growing business and regulatory challenges.
The online ready-to-wear sales platform announced on Monday that it would be listed on the Hong Kong Stock Exchange from September 1st. This would allow it to raise up to 13.86 billion Hong Kong dollars (1.5 billion euros).
Shein's up to US$1.8b Hong Kong IPO order book covered
Online fast-fashion retailer Shein's Hong Kong IPO book to raise up to US$1.8 billion (RM7.2 billion) has been fully covered by investor demand, two sources said, bringing it closer to its long-awaited market debut amid growing business and regulatory challenges.
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