The fast-fashion giant Shein expects to raise US$ 1.7 billion in its initial public offering (IPO) scheduled for Tuesday, September 1st, on the Hong Kong Stock Exchange, which would value the online retailer at approximately US$ 26.3 billion, the company reported.
Known for its extremely low prices and rapid clothing production, Shein is debuting on the stock exchange in this Asian market after its plans to conduct the operation in New York and London were hindered by regulatory difficulties.
The valuation of US$ 26.3 billion is far below the US$ 98.2 billion achieved by the company during private funding rounds in 2022, representing a significant devaluation compared to that period.
Founded in China in 2012, the company set its share price at 48.56 Hong Kong dollars (US$ 6.20), according to a document released by the company.
