Bloomberg · Charlotte Yang ·

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

Shein Global Holdings Ltd. completed its initial public offering at a valuation that's a fraction of what the company was once worth.

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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

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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 ↗

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Related stories

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

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: 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

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

Bloomberg: Z.ai reports H1 2026 revenue up 400% to ~$142M, below its $200M projection; Z.ai's market value surged 800% since its January listing, peaking at $137B

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