Shein Sets Hong Kong IPO Date with Valuation Below $27 Billion
5 sources across 2 countries · United Kingdom · Argentina
Who reported this
- The Guardian
- BBC News
- Financial Times
- Reuters
- Infobae
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
- A hatched block means the outlet is affiliated with, or controlled by, a state.
Political lean describes where an outlet sits within the politics of its own country. It is never a position on a single global scale.
Political lean is comparable inside one country and not across them, which is why the bar groups by country first. Publicly funded broadcasters are not marked as state-linked.
The owner of each outlet is listed as a matter of record, not as a judgement about the outlet.
Fast-fashion retailer Shein plans to begin trading on the Hong Kong stock market on 1 September. According to company filings, Shein intends to offer nearly 280 million shares at a price between HK$47.60 and HK$49.50 per share. At the top of this range, the company would be valued at approximately $27 billion, which represents a significant decline from its private market peak of nearly $100 billion in 2022. The company aims to raise up to HK$13.86 billion, or roughly $1.77 billion, to fund technological capabilities and international expansion.
The move to Hong Kong follows unsuccessful attempts to list in New York and London. These previous efforts were hindered by regulatory challenges and scrutiny regarding the company's supply chain practices. While Shein is headquartered in Singapore, it was founded in China and continues to rely on China's textile manufacturing and logistics networks. The IPO is backed by investment firms including Goldman Sachs, Morgan Stanley, and JP Morgan.
Financial performance has been mixed. Some reports indicate Shein recorded an annual net profit of $2.06 billion in 2025, yet the company also reported a quarterly loss of $99 million in the first three months of a recent year. This loss was attributed in part to the removal of the de minimis import duty waiver on small packages in the United States. Additionally, the company noted that the war in Iran increased costs and delayed deliveries in certain markets.
Shein faces ongoing criticism regarding its business model. Reports highlight allegations of forced labor in supply chains, environmental damage caused by fast fashion, and the sale of illegal products. In France, the company has faced fines totaling over 22 million euros for issues with product traceability and environmental labeling, contributing to a total of over 210 million euros in French fines over several years. Shein has stated it has zero tolerance for forced labor and maintains strict compliance standards for its suppliers.
How each side framed it
- Centre-left
- This framing emphasized the company's legal troubles in France and the social protests regarding inhumane working conditions and environmental costs.
- Centre
- These outlets focused on the financial mechanics of the IPO and the specific regulatory and economic hurdles causing the valuation drop.
- Centre-right
- These outlets highlighted the strategic necessity of the IPO to manage investor liabilities and the company's operational efficiency in China.
Sources
- Centre BBC News: Shein aims for almost $27bn valuation in stock market debut
- Centre Financial Times: Shein seeks $27bn valuation from Hong Kong IPO
- Centre-right Infobae: Shein will go public for 1.768 billion dollars, but at a value 73% lower than 2022
- Centre-right Infobae: Shein prepares its stock market debut in Hong Kong: it will offer 280 million shares and seeks a valuation of 26.8 billion
- Centre Reuters: Fast-fashion giant Shein shrinks value to $27 billion, at best, in Hong Kong IPO - Reuters
- Centre-left The Guardian: Fast-fashion giant Shein aims for $27bn valuation in Hong Kong market debut
100% of the statements in this article were traced back to the source articles listed above.