Fast fashion firm Shein could be valued at up to 27 billion US dollars (£19.8 billion) when it makes its long-awaited stock market debut in Hong Kong next week.
The pricing set by the group gives it a valuation of between 202 billion HK dollars (26 billion US dollars/£18.9 billion) and 210 billion HK dollars (27 billion US dollars/£19.6 billion). That is thought to be far less than originally hoped for by the group, which was reportedly worth more than 100 billion US dollars (£73.3 billion) at its peak following a private fundraising in 2022.
Float details and share pricing
The online retail giant, known for selling extremely cheap clothes, has been planning to float since 2023. Previous attempts to list in New York and London failed after political and regulatory scrutiny.
In a listing notice on Monday, the group revealed it will sell 280 million shares for between 47.60 HK dollars (£4.44) and 49.50 HK dollars (£4.62) in the September 1 listing. The flotation will raise as much as 14 billion HK dollars (1.8 billion US dollars/£1.3 billion) for the group, with an option to sell an extra 42 million shares.
Investor access and backers
Around 90% of the shares will be available to overseas investors, Shein said in the filing. US banking giants Goldman Sachs, Morgan Stanley and JP Morgan are backing the initial public offering (IPO).
