Shein scheduled for Hong Kong IPO hearing on Thursday, sources say
- On Thursday, fast-fashion retailer Shein will face the Hong Kong Stock Exchange's listing committee for a crucial IPO hearing, following approval from the China Securities Regulatory Commission last Friday.
- Shein Executive Chairman Donald Tang will step down to an advisory role as the company's IPO process nears completion, ending his three-year tenure as the public face of the retailer.
- Valuation targets range between $40 billion and $50 billion, a significant decrease from the $66 billion figure reached in a 2023 funding round, with some shareholders reportedly pushing for $30 billion.
- Previous IPO attempts in New York and London failed due to regulatory scrutiny, and geopolitical tensions plus trade policy changes have continued to erode Shein's growth trajectory.
- Founder Sky Xu may take a more prominent role, potentially leading investor roadshows as the retailer plans to sell up to 341.6 million H-shares and raise between $2 billion and $3 billion.
23 Articles
23 Articles
Chinese online fashion platform Shein is set to undergo review by the Hong Kong Stock Exchange Listing Committee, a key step in its listing on the Hong Kong stock market. With the Chinese government's approval followed by the confirmation of the Hong Kong Exchange's review schedule, observers believe the initial public offering (IPO), which had been thwarted in both New York and London, is entering its final stages. On the 13th (local time), Reu…
It is one of the largest fast fashion companies in the world and sells clothes to more than 150 countries. Now, Shein is closer to getting into stock market. What do we know about this operation? Listen to the new episode of Economy day by day, daily podcast of Express conducted by Juliana Simões
Shein's executive president, Donald Tang, will leave office as his mission to open the company's capital approaches the conclusion, three sources with direct knowledge of the subject said on Monday (13). He will retreat to a consulting role after three years as the public face of the fast-fashion global retailer. A Chinese-American billionaire who began his career in the banking sector, Tang acted as the western representative of the discreet fo…
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