New Stock News | SHEIN is expected to go public in Hong Kong in the third quarter at a valuation of approximately 312 billion Hong Kong dollars.

Chinese fast fashion apparel sales platform Shein is advancing its preparation for an IPO in Hong Kong, with reports citing sources familiar with the matter that the listing could take place as early as the third quarter of this year, with a target valuation of over $40 billion (approximately HK$312 billion). The China Securities Regulatory Commission announced last Friday that it has received Shein's submission of materials for its overseas IPO listing, with the company planning to issue no more than 342 million shares of overseas-listed common stock and list on the Hong Kong Stock Exchange. It has been reported that approximately a year has passed since Shein secretly submitted its IPO application to the Hong Kong Stock Exchange last summer. The company initially sought to list in the United States, but the plan was blocked in 2024. Shein later turned to a London listing, but failed to obtain approval from the Chinese government for its London IPO plan. In a round of financing in 2023, Shein was valued at approximately $66 billion, but its valuation has since declined due to increased competition from rivals such as Temu and continued geopolitical uncertainties. Public information shows that Shein is an international fashion and lifestyle online retail platform founded by Chris Xu in 2008, headquartered in Guangzhou, China, with operations covering more than 150 countries worldwide. Shein was named one of Time magazine's Top 100 Most Influential Companies in 2022, ranked 4th on the global unicorn list in 2023, and ranked 16th on the Hurun China 500 list in 2024.