Shein plans Hong Kong stock market debut for September 1

Fast-fashion giant Shein is reportedly planning to debut on the Hong Kong Stock Exchange on September 1, according to sources cited by the South China Morning Post. This date represents a slight delay from the previously anticipated August 28. The company is expected to open its share reservation phase on August 24.

While Shein has requested confidentiality regarding its listing process, analysts expect the company to debut with a valuation below $30 billion. This marks a significant decline from its estimated valuation of approximately $98.2 billion in 2022. The company may seek to raise between $2 billion and $3 billion through the sale of roughly 342 million shares.

The move to Hong Kong follows unsuccessful attempts to list in New York and London. The London attempt was reportedly hindered by regulatory scrutiny regarding governance and supply chain practices. Having moved its headquarters to Singapore in 2022 to distance itself from its Chinese origins, Shein now views Hong Kong as a middle ground between international investors and Chinese authorities.