Shein has postponed its IPO debut on the Hong Kong stock exchange to September after facing delays in investor orders and lowered its valuation estimate to between US$25 billion and US$27 billion, a steep drop from about US$100 billion in 2022 private valuations [1, 2, 3, 4, 5, 6, 7].
The Chinese-founded fashion e-commerce giant plans to begin the book-building process for investor orders on August 24, 2026, ahead of a tentative listing date of September 1, 2026, although the listing could be delayed by a few days [1, 2, 3, 4, 5, 6, 7].
Initial IPO valuation targets ranged from US$30 billion to US$40 billion but were later adjusted downward to the current US$25-$27 billion range, reflecting softer investor appetite due to concerns about Shein’s growth slowing and rising logistics and compliance costs [1, 2, 3, 6, 7].
Most cornerstone investor positions will be held by existing shareholders, including founder Xu Yangtian (Chris Xu) and institutional investors Tiger Global, IDG Capital, Boyu Capital, and HSG/Sequoia China. Investment banks and UBS Asset Management are also expected to participate as cornerstone investors [1, 2, 3, 4, 5, 6, 7].
Founded in China in 2012, Shein is now headquartered in Singapore and known for selling affordable fast fashion, such as US$5 dresses and US$10 jeans, to customers in about 160 countries globally [1, 2, 3, 5].
Reuters first reported on August 17 that Shein aimed to launch the IPO later that week with a valuation around US$25 billion, but reports on August 20 indicated that the IPO was pushed to September due to delayed investor orders [1, 2, 3, 4, 5].
Shein’s upcoming IPO on the Hong Kong exchange remains scheduled for September 1, although the company has not ruled out a delay by a few days. The book-building process starting August 24 will test investor demand before final pricing [4, 6, 7].
