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Shein is aiming for a valuation of between $30 billion and $40 billion in its planned Hong Kong initial public offering (IPO), with the online fast-fashion retailer expected to launch the share sale as early as mid-August, according to people familiar with the matter.
The company has already begun pre-deal meetings with potential investors, one source said, while two others indicated the IPO could officially launch sometime between the middle and end of August. The sources requested anonymity because the discussions remain confidential.
If completed within the expected valuation range, the IPO would represent a significant decline from Shein's previous private market valuations. The retailer was valued at $98.2 billion in 2022, before falling to $64 billion during fundraising rounds in 2023 and again in April 2024. The lower target reflects growing business challenges and shifting investor sentiment toward the global fast-fashion sector.
People familiar with the matter cautioned that both the proposed valuation and launch schedule remain subject to change as Shein continues discussions with institutional investors. Feedback from these meetings could influence the company's final pricing strategy and the timing of the offering.
The Hong Kong IPO is one of the most closely watched listings in Asia, as investors assess demand for large consumer and e-commerce offerings amid volatile global equity markets. A successful listing could provide Shein with fresh capital while strengthening its presence in one of the world's leading financial hubs.
The company has faced increased scrutiny in recent years over supply chain practices, regulatory issues, and geopolitical tensions, factors that have weighed on its valuation despite its strong global brand recognition and rapid online sales growth.
Shein did not immediately respond to a Reuters request for comment regarding the reported valuation target or IPO timeline.
The planned listing is expected to attract significant attention from global investors, with market participants closely monitoring pricing details, investor demand, and any revisions to the company's valuation as the Hong Kong IPO process moves forward.
