Shein secures Hong Kong IPO approval, eyes $40‑$50 billion valuation

Chinese fast‑fashion retailer Shein received clearance from the Hong Kong Stock Exchange’s listing committee, moving the company closer to an initial public offering in the Asian market. The approval follows earlier failed attempts to list in New York and London and a recent sign‑off from China’s securities regulator.

Shein is targeting a valuation of $40 billion to $50 billion, markedly lower than the $100 billion figure reported for a 2022 funding round. The company reported more than $40 billion in global revenue and about $2 billion in net profit for the most recent fiscal year, with 2024 figures of $37 billion revenue and $1.29 billion profit disclosed in Singapore filings.

The IPO is slated for September, with a preliminary prospectus expected in the week of July 27 and investor roadshows already under way. Analysts note that new European Union fees of €3 on low‑value e‑commerce parcels could pressure growth, prompting some investors to suggest a valuation nearer $30 billion. The listing will be one of Hong Kong’s most closely watched offerings in years and a key test of appetite for large consumer‑sector deals.