Shein eyes $27bn valuation in Hong Kong IPO amid regulatory scrutiny

Sun Sep 06 2026 03:49:52 GMT+0000 (Coordinated Universal Time)

The fast‑fashion titan aims to raise up to HK13.86bn as it enters the Hong Kong market on 1 September, following failed attempts to list in the U.S. and London.

Shein is preparing to list on the Hong Kong Stock Exchange, promising to raise up to HK13.86bn ($1.77bn) by offering around 280 million shares at between HK$47.60 and HK$49.50. Its valuation would hover close to $27bn – a sharp fall from the $100bn valuation seen in a 2022 private funding round, reflecting slower growth and higher costs. The launch follows regulatory hurdles that blocked earlier U.S. and London listings, and takes place with backing from Goldman Sachs, Morgan Stanley and JPMorgan. Amid a quarterly loss of $99 m following tariff changes, the IPO marks a crucial move for the founder‑founded company to attract public investment. Sustainability concerns about forced labour and environmental impact remain a backdrop to the company’s expansion.

Shein aims for almost $27bn valuation in 1 September stock market debut

Woman in a red dress looking at her smartphone while walking past a Shein sign

By Osmond Chia

24 August 2026, 02:23 BST (Updated 5 minutes ago)

Fast‑fashion giant Shein says it plans to raise up to HK13.86bn (£1.3bn; $1.77bn) when its shares start trading on the Hong Kong stock market on 1 September.

In a filing on Monday, Shein said it will offer nearly 280 million shares for between HK$47.60 and HK$49.50. At the top of the range, it would value the firm at almost $27bn (£19.8bn). This is far below the $100bn valuation it achieved in a 2022 private fundraising round, reflecting weaker sales growth and higher costs.

The long‑awaited move comes after failed attempts to list in the U.S. and London, due to regulatory challenges amid scrutiny of Shein, headquartered in Singapore but founded in China.

The IPO is backed by Wall Street investment giants Goldman Sachs, Morgan Stanley and JPMorgan.

In July, Shein announced a quarterly loss, as its sales slowed following U.S. President Donald Trump’s removal of an import‑duty exemption on small packages. The company lost $99 m in the first quarter, compared with net income of $395 m a year earlier.

Uncertainty remains over the paused trade war, though the U.S. and China have paused tit‑for‑tat tariffs. Since its founding in 2008, Shein has become one of the world’s largest fast‑fashion retailers, with customers in more than 150 countries.

The e‑commerce giant sells ultra‑cheap clothes backed by a vast network of factories in China that can quickly produce new products based on the latest trends.

Its revenue has far outstripped rivals like H&M and Zara.

But Shein has faced environmental impact concerns and allegations of forced labour in supply chains. Shein has previously told the BBC it has a “zero tolerance for forced labour”. The attempt to go public on the London Stock Exchange collapsed after the company declined to answer questions about its supply chain practices.