Hong Kong ·
Shein formally launches its Hong Kong IPO at up to $27B, roughly a quarter of its 2022 private mark
Shein began taking orders for a Hong Kong listing of 280 million Class B shares at HK$47.60–49.50 each, raising about HK$13.9 billion (~$1.8B) at an implied valuation as high as $27 billion — down from the roughly $100 billion it commanded in a 2022 private round — with pricing due August 31 and trading from September 1, leaving pre-IPO backers such as General Atlantic, HSG, Boyu Capital, Tiger Global and Tencent on paper losses the company has tried to cushion with cash-and-bonus-share sweeteners.
Source: Asia Tech Review ↗
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