GoKawiil
Tech News
Shein Global Holdings finally went public via a Hong Kong listing after previous attempts to list in New York and London fell through. Shares dropped as much as 9% in early trading before clawing back to roughly their IPO price by the end of the session.
Shein Global Holdings, the fast-fashion company founded in China and now headquartered in Singapore, is preparing to go public on the Hong Kong stock exchange next month. The IPO comes after the company shifted away from earlier plans for a US or London listing, and it is expected to price well below the valuation once floated for those attempts.
Shein filed to raise as much as HK$13.86 billion (about $1.77 billion) by selling roughly 280 million Class B shares priced between HK$47.60 and HK$49.50 apiece, implying a valuation near $27 billion at the top end. Pricing will be finalized August 31, with trading set to begin September 1, following Chinese regulatory approval after earlier listing attempts in London and New York fell through.