Shein Aims to List in Hong Kong as Early as August, Targeting Up to $3 Billion in Funding
According to Bloomberg News on the 13th, fast-fashion retailer Shein plans to launch its initial public offering (IPO) in Hong Kong as early as August, aiming to raise between $2 billion and $3 billion.
The report noted that the final fundraising amount will depend on the company's valuation and investor demand, with room for adjustments to both the listing timeline and issuance scale.
Shein received approval from China’s State Administration of Market Regulation on Friday, July 3, clearing a key hurdle in its pursuit of a Hong Kong listing.
Reuters reported earlier Monday that Shein is scheduled to undergo a listing hearing with the Hong Kong Exchanges and Clearing Limited (HKEX) Listing Committee this Thursday, during which it will need to respond to questions from committee members.
A source told Reuters last Friday that Shein may go public in September or October this year, targeting a valuation of approximately $40 billion to $50 billion. The company's valuation once reached as high as $100 billion in 2022.
After obtaining HKEX approval, Shein will be able to initiate the IPO process.
If completed successfully, this Hong Kong listing would mark a significant milestone in Shein’s journey toward going public. Previously, the company’s attempts to list in the United States and the United Kingdom both failed.
Founded in 2012 by Chinese entrepreneur Sky Xu (Xu Yangtian), Shein operates in around 150 countries and regions worldwide and is known for selling low-cost fashion apparel—such as dresses priced at $5 and jeans at $10. The company secretly submitted its Hong Kong IPO application last July and has now received regulatory clearance from Chinese authorities after waiting for a year.
Source: rfi
Original: toutiao.com/article/1870662321832960/
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