Shein plans to conduct an initial public offering (IPO) in Hong Kong on August 19.
According to two sources close to the matter, Shein, an online fast fashion retailer headquartered in Singapore, plans to conduct an initial public offering (IPO) in Hong Kong on August 19.
According to sources, the company offered shares to investors this week and is targeting a valuation of $30 billion to $40 billion.
The stock offering comes as Shein faces slowing revenue growth, weaker core profits and narrowing margins, amid higher trading costs, tighter regulatory scrutiny and increasingly fierce competition in global e-commerce.
In 2022, Shein was valued at $98.2 billion, before falling to $64 billion in 2023 and April 2024, suggesting a lower target price for the expected listing.
Lesson: Navigator Media
