IPO News | SHEIN (SHEIN) will be listed in Hong Kong in the third quarter at a valuation of about HK$312 billion

The Zhitong Finance App learned that China's fast fashion apparel sales platform SHEIN (SHEIN) is advancing preparations for the Hong Kong IPO. Some reports quoted people familiar with the matter as saying that the listing is expected to take place as early as the third quarter of this year, with a target valuation of over 40 billion US dollars (about HK$312 billion).

The China Securities Regulatory Commission announced on Friday that it has received the overseas issuance filing materials submitted by SHEIN. The company plans to issue no more than 342 million shares of overseas listed common shares and list them on the Hong Kong Stock Exchange.

According to reports, it has now been about a year since SHEIN secretly submitted an IPO application to the Hong Kong Stock Exchange last summer. The company initially sought a US listing, and the plan was blocked in 2024. The company later switched to the London listing, but SHEIN failed to obtain approval from the Chinese government for its London IPO plan.

In the 2023 round of financing, SHEIN was valued at around $66 billion, but since then, against the backdrop of increased competition from rivals such as Temu and continued geopolitical uncertainty, its valuation has declined.

According to public information, Shein (Shein) is an international fashion and lifestyle online retail platform. It was founded by Xu Yangtian in 2008 and is headquartered in Guangzhou, China, and its business covers more than 150 countries around the world. Shein was named “Time” magazine's Top 100 Most Influential Companies in the World in 2022, ranked 4th in the Global Unicorn List in 2023, and ranked 16th in Hurun China's Top 500 in 2024.