New York Times · Sui-Lee Wee ·

Following abandoned IPO attempts in NYC and London, Shein is struggling to grow as it nears a Hong Kong listing at a fraction of its peak valuation of $100B

Facing pressure in the United States and Europe, Shein is struggling to find new ways to grow ahead of its much-delayed initial public offering.

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Following abandoned IPO attempts in NYC and London, Shein is struggling to grow as it nears a Hong Kong listing at a fraction of its peak valuation of $100B

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New York Times — Following abandoned IPO attempts in NYC and London, Shein is struggling to grow as it nears a Hong Kong listing at a fraction of its peak valuation of $100B ↗

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Bloomberg: Shein raised $1.7B in its Hong Kong IPO, giving it a $26B market cap, far below its ~$100B valuation in 2022, as growth slows amid tariffs and competition

Reuters: Singapore-based Shein is aiming to hit a ~$25B valuation in its Hong Kong IPO, down from its $30B-$40B goal earlier in August after investor meetings

Reuters: How Shein pivoted to a Hong Kong IPO and sought to build Chinese government ties, after its New York and London bids failed to secure Beijing's approval

The Information: Shein ends flat at ~$6.20 per share on its first day of trading on the Hong Kong stock exchange, giving it a $26B market cap after raising $1.7B in its IPO

Reuters: Singapore-based Shein is set to price its Hong Kong IPO at ~$6.20, or near the midpoint of its marketed range, raising $1.73B and valuing it at ~$26.5B

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