Shein's $1.8 Billion Hong Kong IPO Order Book Covered: Report
Investor demand from existing shareholders and China-focused funds fully covers the $1.8 billion share sale, bringing Shein closer to its Hong Kong market debut.
- Online fast-fashion retailer Shein has fully covered its Hong Kong IPO order book seeking up to $1.8 billion. Final pricing is due Aug 31, with shares debuting on Hong Kong's stock exchange on Sep 1.
- Shein launched its share sale at a valuation of up to $27 billion, representing a decline of nearly 70% from its 2022 private-market peak of nearly $100 billion. This reflects cooling investor appetite for fast-fashion retailers.
- The company faces investigations by the European Commission and the Federal Trade Commission. Previous fines in France and Italy for alleged greenwashing and fake discounts complicate Shein's path to a successful public listing.
- A Shein spokesperson stated the firm maintains 'high standards of corporate governance, transparency and accountability' regarding labor and environmental practices. This aims to reassure investors concerned about regulatory risks.
- Over the past four years, the retailer attempted to list in New York and London but faced criticism over environmental, labor, and governance standards. The current Hong Kong offering represents a critical milestone after previous setbacks.
14 Articles
14 Articles
Shein’s US$1.8bil HK IPO order book fully covered
Online fast-fashion retailer Shein's Hong Kong initial public offering (IPO) book to raise up to US$1.8bil has been fully covered by investor demand, two sources say, bringing it closer to its long-awaited market debut amid growing business and regulatory challenges.
Shein's up to $1.8 billion Hong Kong IPO order book covered, sources say
Online fast-fashion retailer Shein's Hong Kong IPO book to raise up to $1.8 billion has been fully covered by investor demand, two sources said, bringing it closer to its long-awaited market debut amid growing business and regulatory challenges.
SHEIN finally arrives on the market After unsuccessful attempts at listing in New York and London, SHEIN, headquartered in Singapore, is finally preparing to make its debut on the stock exchange in Hong Kong. The fast-fashion retailer offers 280 million shares at $47.60 to $49.50 each, seeking to raise up to HK$ 13.9 billion, or about US$1.8 billion. Trade is expected to begin on September 1. At the top of the price range, SHEIN would be valued …
The fast fashion giant will begin trading shares on the Hong Kong Stock Exchange on September 1.
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