Shein cleared for $2B-$3B Hong Kong IPO, eyes $40B-$50B valuation
Business
Shein, the go-to brand for affordable fashion, just got the green light from China's regulators to launch a $2 billion to $3 billion IPO in Hong Kong.
The company is aiming for a $40 billion to $50 billion valuation, quite a drop from its 2022 peak of $100 billion, but still huge for fast fashion.
HKEX hearing set July 16
Shein faces an important hearing with the Hong Kong Stock Exchange on July 16. If all goes well, they'll start pitching to investors as soon as August.
Founded by Sky Xu in 2012, Shein now sells trendy clothes in 150 countries. After failed attempts to go public in the US and London, this IPO could finally help them level up their global game.