Shein targets Hong Kong market debut on September 1, sources say

Shein aims to launch its Hong Kong initial public offering on Monday, according to a source familiar with the ‌matter, and ⁠is ⁠targeting a listing on September 1, two other sources said, slightly later than previously planned.

While September 1 is the target date, the listing could happen a few ​days later, one of the sources said. Reuters reported last week that Shein had been aiming to list on August 28.

The delay, first ​reported by the South China Morning ⁠Post, comes as ‌slower growth and rising costs have dampened investor appetite ​for Shein. ​The online fast-fashion retailer was seen just a ⁠few years ago as a disruptive challenger to established retailers ​such as H&M and Zara, thanks to ​its rapid supply chain and ultra-low prices.


Among cornerstone investors in the IPO is the asset management arm of UBS Group, which would be investing in Shein for the first time, according to a fourth source with direct knowledge of the matter. A spokesperson for ‌the Swiss bank declined to comment.

Cornerstone investors agree to buy a set amount of shares before an IPO, ​and sign up ​to a lockup ⁠period of six months.

Shein is targeting a valuation of $26 billion to $27 billion, the fourth source said, down sharply from the $100 billion valuation it ​achieved in a private fundraising in 2022.

The company had previously sought an IPO valuation of $30 billion to $40 billion when investor meetings ahead of the IPO first kicked off.

Shein did not respond to a request for comment.