Shein to debut on Hong Kong Stock Exchange at $26.5 billion valuation

Fast-fashion retailer Shein is set to make its market debut on the Hong Kong Stock Exchange on September 1, 2026, after previous attempts to list in New York and London failed due to regulatory hurdles. The company has priced its initial public offering (IPO) at approximately HK$48.56 per share, aiming to raise roughly $1.73 billion.

This listing represents a significant decline in valuation; the company is expected to be valued at approximately $26.5 billion, a roughly 73% drop from its 2022 private market peak of nearly $100 billion. Challenges contributing to this lower valuation include slowing growth, increased competition, and rising costs due to new trade regulations and tariffs in the US and EU.

To secure approval for the Hong Kong listing, Shein founder Sky Xu reportedly increased engagement with Chinese authorities, emphasizing the company's deep roots in China's manufacturing sector despite its Singapore headquarters. The company is also pursuing growth strategies through potential brand acquisitions and partnerships to leverage its extensive supply chain.