Sources say: SHEIN will open its Hong Kong IPO subscription book next week, with a target valuation of $35 billion.

Informed sources revealed that the fast fashion retailer SHEIN plans to begin the investor subscription book for its initial public offering in Hong Kong as early as next week, with a targeted valuation of $35 billion. Several individuals with knowledge of the matter, who requested anonymity due to the confidential nature of the information, disclosed that this Singapore-based company aims to raise up to $2.8 billion and has already started gauging investor demand last week. Other sources indicated that the timing of the IPO and the fundraising scale are still subject to change, as the company originally planned to complete the listing process by the end of this month. One source stated that SHEIN's valuation "will not be less than $30 billion, and the company is striving to achieve the targeted valuation of $35 billion."