Shein plans to launch its Hong Kong initial public offering on Aug. 19, people familiar with the matter said, as the fast-fashion retailer works to bridge a wide valuation gap with investors ahead of the listing.
The company could raise between $2 billion and $3 billion by selling roughly 342 million shares, with the debut expected between September and October. While Shein targets a valuation of up to $40 billion, Bloomberg Intelligence places the company's worth between $22 billion and $25 billion, and some investors have expressed interest at $25 billion to $29 billion.
The listing follows a challenging period: U.S. sales fell 14% after Washington removed the de minimis tariff exemption on low-value parcels, and the European Union has tightened rules on small packages from outside the bloc — a key market accounting for more than 35% of Shein's revenue. The company earned over $2 billion in 2025 but saw profit drop 39% and posted a $99 million net loss in the first quarter.