Shein plans Hong Kong IPO targeting $30 to $40B valuation
Shein, the online fast-fashion retailer known for selling $5 dresses and $10 jeans to shoppers in about 160 countries, is planning to go public in Hong Kong by mid-August.
They're hoping for a $30 to $40 billion valuation, way down from their $98.2 billion peak in 2022, after reporting a $99 million quarterly loss.
The drop comes as Shein deals with slower growth and tougher rules around trade.
US investors push $30B valuation
Recent meetings with investors in the US showed some potential cornerstone IPO investors are pushing for a valuation closer to $30 billion or $32 billion.
While details like share price are still under wraps, Shein has the green light from Chinese regulators.
If all goes well, money raised will go toward tech upgrades and getting the brand out there globally, even as they try to keep late-stage investors happy and steady their stock after listing.