Shein is reportedly preparing for a Hong Kong IPO as early as late August, with the listing potentially moving into September, according to its draft prospectus and people familiar with the plan. The fast-fashion ecommerce company has cleared key regulatory and listing hurdles, although the filing did not disclose the planned offering size or price range.
Earlier reports said Shein was seeking to raise between $2 billion and $3 billion at a potential valuation of $40 billion to $50 billion. The company recorded $41.9 billion in revenue in 2025, with Europe overtaking the US as its largest market. [Reuters]