Shein's Hong Kong IPO pricing values company at $26.5 billion: Report
The retailer will raise about $1.7 billion as it seeks funds for technology upgrades and global expansion amid slower growth and regulatory pressure.
- On Thursday, fast-fashion retailer Shein priced its Hong Kong IPO near the midpoint of its range, raising $1.7 billion at a valuation of about $26.5 billion.
- This valuation reflects a significant decline from the company's nearly $100 billion peak in 2022 and the $66 billion valuation secured in 2023, as Shein faces slower revenue growth and shrinking margins.
- Cornerstone investors including Boyu Capital, Tiger Global, and General Atlantic subscribed for about $383 million in shares, with Shein planning to use about 80% of proceeds for technology and global expansion.
- Retail demand remains tepid, according to Prudential Brokerage associate director Alvin Cheung, who noted investors questioned, "Shein didn't list in Hong Kong when it was in its prime, why should we take them now?"
- The IPO follows four years of attempts to list in New York and London, and Shein agreed to pay up to about $3.5 billion to certain investors from earlier private funding rounds.
8 Articles
8 Articles
Shein's Hong Kong IPO pricing values firm at $26.5bn
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.
Global Market | Shein set to raise $1.7 billion in Hong Kong IPO at $26.5 billion valuation: Reports
Shein is expected to price its Hong Kong IPO near HK$48.56 per share, raising about $1.7 billion at a $26.5 billion valuation. The listing marks a major milestone after years of regulatory challenges. Despite strong investor demand, Shein faces slower growth, shrinking margins, higher trade costs and increasing competition globally.
Shein's Hong Kong IPO pricing values company at $26.5 billion, sources say
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.
On Tuesday (August 25), John Moolenaar, chairman of the House Select Committee on China, publicly demanded that JPMorgan Chase, Goldman Sachs, and Morgan Stanley stop participating in the upcoming initial public offering (IPO) of fast fashion retailer Shein in Hong Kong, accusing these U.S. financial institutions of helping the company raise funds from international capital markets despite long-standing allegations of forced labor in Shein's sup…
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
