Fast-fashion retailer Shein has secured approval from China's securities regulator to launch an initial public offering in Hong Kong, moving the company closer to a listing that could come as early as September or October 2026.
The China Securities Regulatory Commission issued a filing notice on July 10, authorising Shein to sell up to roughly 341.6 million ordinary shares on the Hong Kong Stock Exchange. The IPO could raise billions and target a valuation between $40 billion and $50 billion, a steep markdown from the estimated $100 billion valuation the company commanded in 2022 and the $66 billion it reached during a May 2023 fundraising round.
Shein's path to going public has been complicated by regulatory headwinds in multiple markets, including more than €200 million in fines from French authorities over consumer data practices and misleading discount claims. The Hong Kong listing marks a strategic pivot after the company previously explored a flotation in the United States.