Shein aims for almost $27bn valuation in 1 September stock market debut
Summary
Shein plans to start selling its shares on the Hong Kong stock market on 1 September, aiming to raise about $1.77 billion. The company would be valued at nearly $27 billion, lower than its $100 billion valuation in 2022, due to slower sales and higher costs.Key Facts
- Shein will offer nearly 280 million shares at prices between HK$47.60 and HK$49.50.
- The expected valuation at the top price is nearly $27 billion.
- This valuation is much lower than the $100 billion from private fundraising in 2022.
- Shein had delays listing on US and London markets because of regulatory and scrutiny issues.
- The company is headquartered in Singapore but was founded in China.
- Goldman Sachs, Morgan Stanley, and JP Morgan support Shein’s initial public offering (IPO).
- Shein reported a $99 million loss in the first quarter of the year after sales slowed.
- The loss followed US President Donald Trump removing an import duty exemption on small packages.
- US-China tariff tensions are continuing, though currently paused.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
