economy
Shein targets $27 billion Hong Kong IPO
Shein is planning to raise up to $13.86 billion in Hong Kong dollars ($1.77 billion) in its initial public offering, according to a filing on Monday.
TL;DR
- Shein plans to raise up to $1.77 billion in its Hong Kong IPO.
- The IPO could value the company at nearly $27 billion.
- This valuation is a sharp drop from earlier private fundraising rounds (valued at $98.2 billion in 2022 and $64 billion in 2023-2024).
- Investor and consumer excitement for ultra-fast fashion has decreased.