Shein to list on Hong Kong Stock Exchange Sept. 1 at $27 billion valuation
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Shein will begin trading on the Hong Kong Stock Exchange on Sept. 1 at a valuation of about $27 billion. The fast-fashion retailer is taking orders for nearly 280 million shares priced between HK$47.60 and HK$49.50, aiming to raise up to $1.77 billion. The listing follows years of regulatory delays and a sharp decline from its $98.2 billion peak valuation in 2022.
Key Facts
- Shein will begin trading on the Hong Kong Stock Exchange on Sept. 1, 2026.
- The IPO values Shein at about $27 billion, down from $98.2 billion in 2022.
- Shein is offering nearly 280 million shares at HK$47.60 to HK$49.50 each, aiming to raise up to $1.77 billion.
- Shein reported a $99 million net loss in Q1 2026, compared with net income of $395 million a year earlier.
- The U.S. Federal Trade Commission is investigating Shein's American operations for potential consumer-protection violations.
IPO Details
Shein began taking orders Monday for nearly 280 million shares priced between HK$47.60 and HK$49.50. At the top of the range, the offering would raise about $1.77 billion and value the company at close to $27 billion. The final price is due Aug. 31, with trading starting the following day. The deal has been repeatedly scaled back in recent weeks, from a reported $30 billion to $40 billion valuation in early August to $25 billion to $28 billion by last week.
Financial Performance
Shein generated $41.9 billion of revenue in 2025, up from $32.1 billion in 2023. The company's draft Hong Kong prospectus showed a $99 million net loss in the first quarter of 2026, compared with net income of $395 million a year earlier. Shein has been hit hard by the removal of U.S. tariff exemptions for low-value packages, while higher costs and weaker growth have put additional pressure on margins.
Competitive and Regulatory Pressures
Temu and Amazon are competing aggressively for the same digitally native consumer, while Inditex has continued investing in its own online capabilities. Shein's model of shipping enormous volumes of small parcels directly to consumers has become a regulatory target in both the U.S. and Europe. In July, Shein disclosed that the U.S. Federal Trade Commission was investigating its American operations for potential consumer-protection violations and warned that the outcome could result in significant financial penalties. The company is also facing scrutiny over supply-chain practices, including previously acknowledged incidents of child labor among suppliers.
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Shein to list on Hong Kong Stock Exchange Sept. 1 at $27 billion valuation
