Low-cost online retailer Shein is seeking to raise up to HK$13.86 billion ($1.77 billion) in its planned Hong Kong stock market debut in a long-awaited listing that could value the company at around $27 billion.
The fast-fashion company said it plans to offer nearly 280 million shares at between HK$47.60 and HK$49.50 each.
Shein, which was founded in China and has since moved its headquarters to Singapore, is due to announce the final offer price on August 31, with trading expected to begin on September 1.
The $27 billion valuation would be well below the valuation of nearly $100 billion reportedly reached in private funding rounds in 2022.
Asian shopping platforms such as Shein, Temu and AliExpress have expanded rapidly around the world in recent years, but have faced criticism from politicians, trade groups and consumer advocates over product quality, insufficient controls and unfair competition.
Shein ships goods directly from manufacturers in China to customers around the world, often by air, and is known for offering clothing at particularly low prices.
However, new customs rules in the United States and Europe, as well as the impact of the Middle East crisis, have recently weighed on its business.
In a stock market prospectus published in late July, Shein reported a loss of $99 million for the first three months of the year.
The company estimated that it had around 273 million active customers in some 160 countries in 2025.
Shein said proceeds from the listing would be used in part to improve its technology infrastructure and increase investment in global marketing.
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