Shein: Hong Kong IPO on 1 September, market capitalisation of up to 23 billion euros
(Il Sole 24 Ore Radiocor) - Chinese low-cost fashion giant Shein is set to list on the Hong Kong stock exchange on 1 September. It is aiming for a market capitalisation of up to 23 billion euros. Specifically, the fast-fashion leader plans to offer 280 million shares at a price of between 47.60 and 49.50 Hong Kong dollars, raising up to 13.86 billion Hong Kong dollars (approximately 1.5 billion euros at the current exchange rate) for a market capitalisation of 210.3 billion Hong Kong dollars (the equivalent of 23 billion euros).
The listing marks a step in Shein’s rapid and sometimes controversial international expansion. The market debut comes at a time when the fast-fashion giant, grappling with growing scepticism from Western authorities and criticism over its environmental impact, is seeking to revive its flagging growth. Founded in China in 2012, Shein is now headquartered in Singapore.
The IPO could value Shein at more than 70 per cent less than the $98.2 billion valuation achieved in a private funding round in 2022. The offer price is expected to be announced on 31 August, one day before the IPO, which is scheduled for 1 September.
Red-Sim
