Shein Fully Covered for 1.8 Billion Hong Kong IPO
Online fast-fashion retailer Shein has fully covered its order book for a Hong Kong IPO aiming to raise up to $1.8 billion. Investor demand comes from existing shareholders and various funds as the company moves toward a September trading debut.
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Online fast-fashion retailer Shein secured full coverage for its Hong Kong IPO worth up to $1.8B from investor demand, people familiar with the matter said on Monday morning. The share sale values the company at up to $27B, bringing it closer to its market debut amid ongoing regulatory pressures. The valuation sits nearly 70% below the nearly $100B private market peak the Singapore-based, China-founded firm reached in 2022.
