Shein Targets $27 Billion Hong Kong IPO — a Fraction of Its 2022 Valuation

Skip Navigation NEWSLETTERCNBC Daily Open: The cost of AI, trade showdown and Iran’s ‘economic D-day’ cnbc.com Shein targets $27 billion Hong Kong IPO — a fraction of its 2022 valuation Livestream CREATE FREE ACCOUNT Markets Pre-Markets U.S. Markets Currencies Prediction Markets Cryptocurrency Futures & Commodities Bonds Funds & ETFs Business Economy Finance Health & Science Media Real Estate Energy Climate Transportation Investigations Industrials Retail Wealth Sports Life Small Business Investing Personal Finance Fintech Financial Advisors Options Action ETF Street Buffett Archive Earnings Trader Talk Tech Cybersecurity AI Enterprise Internet Media Mobile Social Media CNBC Disruptor 50 Tech Guide Politics & Policy White House Policy Defense Congress Expanding Opportunity Video Latest Video Full Episodes Livestream Live Audio Live TV Schedule CNBC Podcasts CEO Interviews CNBC Documentaries Digital Originals Watchlist Investing Club Trust Portfolio Analysis Trade Alerts Meeting Videos Homestretch Jim’s Columns Education Subscribe PRO Pro News Josh Brown Mike Santoli Calls of the Day My Portfolio Livestream Full Episodes Stock Screener Market Forecast Options Investing Chart Investing Subscribe Livestream Menu Make It select USA INTL Livestream Search quotes, news & videos Livestream Watchlist SIGN IN Create free account Shein targets $27 billion Hong Kong IPO — a fraction of its 2022 valuation Livestream CREATE FREE ACCOUNT Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Markets Shein targets $27 billion Hong Kong IPO — a fraction of its 2022 valuation Published Mon, Aug 24 2026 2:27 AM EDT Updated 39 Min Ago Sawdah Bhaimiya Justina Lee@in/justina-lee-2742aa59 WATCH LIVE Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email Key Points Shein is looking to raise $1.77 billion in a much-anticipated initial public offering in Hong Kong. The final price will be announced on Aug. 31, with shares expected to start trading on Sep. 1. The company’s valuation has dropped sharply over the past few years as investor interest has waned in the fast-fashion retailer. GUANGZHOU, CHINA - JULY 14: A woman looks at her smartphone while walking past a SHEIN sign outside the company’s office on July 14, 2026, in Guangzhou, Guangdong Province, China. Cheng Xin | Getty Images News | Getty Images 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. The fast-fashion retailer is selling around 280 million class B shares, priced between HK$47.60 and HK$49.50 per share, valuing it at close to US$27 billion at the top of that range. The final price will be announced by the company on Aug. 31, with shares expected to start trading on Sep. 1. The company, which was valued at $64 billion in 2023 and April 2024, saw its valuation drop sharply from earlier private fundraising rounds that valued it at $98.2 billion in 2022, according to Reuters. The company’s valuation has fallen due to a slowdown in its rapid growth and pressure on profitability. Revenue growth decelerated to 8% in 2025 from 20.7% a year earlier, while the loss of a U.S. import-duty exemption and a one-time accounting charge pushed it to a $99 million loss in early 2026. Tariffs have hurt Shein’s revenueand sales in the past year, with the company saying it had to pass on the costs and increase prices for customers. Shein wonapproval for a Hong Kong listing by the China Securities Regulatory Commission in early July, after failed attempts at going public in London and New York. However, Investors and consumers are no longer excited by the ultra-fast fashion retailer as they once were, Shaun Rein, managing director at China Market Research Group, told CNBC last month. Made with Flourish•Create a timeline “The company has missed the golden time to list,” William Ma, chief investment officer at GROW Investment Group, previously told CNBC. Investor appetite for the retail giant has waned, especially as the Hong Kong stock market’s IPO pipeline is dominated by AI and chip firms. Shein is also riddled with ethical concerns over working conditions at its suppliers; it’s lost momentum with shoppers under the age of 35, and it has struggled to keep up with rivals such as Temu. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. 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