Shein debuts on Hong Kong exchange at $26.3 billion valuation

September 1, 2026 at 12:05 PM2 min

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Shein went public on Tuesday on the Hong Kong Stock Exchange at a valuation of $26.3 billion, a fraction of its $100 billion private valuation in 2022. The Singapore-headquartered fast fashion retailer priced its IPO at HK$48.56 per share, raising more than HK$13.2 billion. The stock fell about 9% shortly after trading began, then recovered slightly to around HK$46.60 by noon local time.

Key Facts

Shein priced its IPO at HK$48.56 per share, offering about 280 million shares and raising more than HK$13.2 billion.
The company's valuation at the IPO price was $26.3 billion, down from a $100 billion private valuation in 2022.
Five minutes after trading began on Tuesday, the stock lost about 9% of its IPO price, then recovered slightly to around HK$46.60 by noon local time.
Shein plans to use about 40% of IPO proceeds to enhance technological capabilities and another 40% to strengthen global brand awareness.
In May 2025, the European Commission accused Shein of practices in breach of EU law, including fake discounts and misleading sustainability claims.

IPO Pricing and Valuation

Shein offered 280 million shares at HK$48.56, or $6.19, per share. The IPO raised more than HK$13.2 billion. The valuation at the IPO price was $26.3 billion, down from the $100 billion private valuation reported by The Wall Street Journal in April 2022. The company is headquartered in Singapore and listed on the Hong Kong Stock Exchange.

First Day Trading

The stock began trading on Tuesday and lost about 9% of its IPO price within five minutes. By noon local time, it had recovered slightly to trade at about HK$46.60. The IPO follows months of delays for the fast fashion retailer.

Regulatory and Market Pressures

In April 2025, President Donald Trump ordered the closure of the de minimis trade loophole that allowed packages under $800 to enter the US tax-free. Shein was one of the biggest beneficiaries of the loophole and was forced to raise prices in the US in April. In May 2025, the European Commission accused Shein of fake discounts and misleading sustainability claims. In December 2025, Texas Attorney General Ken Paxton launched an investigation into Shein for potential violations related to labor practices and unsafe products.