Shein, a fast-fashion retailer, has won approval from the Hong Kong stock exchange listing committee for an initial public offering (IPO), according to three people with knowledge of the matter. This brings the company closer to its much-awaited stock market debut in the Asian financial hub.
IPO Details
The IPO would be one of Hong Kong’s most closely watched listings in years and a major test of investor appetite for large consumer deals. Shein aims to publish the first listing filing available to the public in the week of July 27. The retailer could launch the IPO as soon as late August, although the timetable and offering details are not finalized and could change depending on market conditions.
Shein is seeking a valuation of $40 billion to $50 billion in its Hong Kong listing, which is far less than the $100 billion valuation in a funding round in 2022. The company has begun arranging marketing meetings with investors.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
