Shein IPO expected to raise €1.4bn

Shein is on track to raise about €1.4bn in its Hong Kong initial public offering as it nears the end of an arduous journey to go public. Timon Schneider / Alamy Stock Photo

Shein is on track to raise about €1.4bn in its Hong Kong initial public offering as it nears the end of an arduous journey to go public.

The company is telling prospective investors it is likely to price the IPO at about HK$48.56 (€5.32) per share, just above the midpoint of the marketed range, according to people familiar with the matter. That would value the fast-fashion retailer at just above €22bn, compared with a near €100bn price tag it commanded four years ago. The company has been marketing about 280 million shares at HK$47.6 to HK$49.5 each.

Deliberations are ongoing and the pricing may change, the people said, asking not to be identified because the information is private. A representative for Shein didn’t immediately respond to a request for comment.

Final pricing is expected on Thursday in Hong Kong, while the shares are due to start trading on September 1.

Shein, founded in mainland China but now headquartered in Singapore previously abandoned attempts in the US and the UK due to regulatory scrutiny. Its growth has slowed markedly due to tariffs, while intensifying competition from Temu in key markets including the US and Europe has also impacted business.

The retailer’s prospectus shows that it swung to a loss of $99m in the first quarter of 2026 from a $395m profit a year earlier, while revenue growth has also been declining.

Shein has leaned heavily on its existing backers to get the IPO across the line. They account for five out of seven of its cornerstone investors and were also expected to take up as much as half of the shares allocable to fund managers, Bloomberg News reported.

Bloomberg