Shein to raise about $1.7 billion in Hong Kong IPO
Business
Shein is set to raise about $1.7 billion with its Hong Kong IPO, pricing shares at HK$48.56 each, landing the company at a $26 billion valuation (way down from its $100 billion peak just four years ago).
The move comes after Shein ditched plans for US and UK listings.
Shein posts $99 million loss
Shein's growth has slowed thanks to tariffs and fierce competition from Temu, especially in the US and Europe.
The company reported a $99 million loss in early 2026, compared to a $395 million profit a year earlier.
Existing investors are stepping up. They're expected to buy up to half of the shares reserved for fund managers.
Final pricing is set for Thursday, and trading kicks off September 1.