According to a Bloomberg July 13 report citing people familiar with the matter, fast-fashion giant Shein Global Holdings Ltd. is seeking an IPO in Hong Kong as soon as August after receiving approval from China’s securities regulator, the China Securities Regulatory Commission (CSRC). The IPO could raise between $2 billion and $3 billion; the final amount will depend on the company’s valuation and investor feedback, and related discussions are still ongoing.
Bloomberg cites insiders: Shein could list in Hong Kong as early as August
Citing people familiar with the matter, Bloomberg reported on July 13 that Shein could complete its IPO in Hong Kong as early as August 2026. The sources asked to remain anonymous because the discussions involved non-public information. The IPO is expected to raise between $2 billion and $3 billion, with the final figure depending on the company’s valuation and investor feedback.
All details are still being negotiated, including the fundraising size and listing timetable, which could also change. A Hong Kong Exchanges and Clearing (HKEX) listing hearing is scheduled for July 16 (Thursday), taking another key step toward a formal listing.
Shein pivots to Hong Kong after twice being blocked from IPOs in the US and London
According to reports, Shein obtained CSRC approval for its Hong Kong IPO last Friday (July 11), about a year after it first filed its listing application with HKEX. Previously, Shein had attempted to list in the United States and London in turn but failed to do so; people familiar with the matter said the main reason it abandoned the London plan was that Chinese regulators had delayed approval for the London listing proposal, prompting Shein to shift its listing venue to Hong Kong.
Shein moved its headquarters to Singapore in 2021; after that, it downplayed its China ties for years until it changed its strategy when it redirected its listing location to Hong Kong.
Shein’s valuation has fallen from a peak of more than $90 billion to about $30 billion
According to reports, Shein’s valuation had been more than three times $30 billion (or more than $90 billion); people familiar with the matter said last year that the company faced pressure from shareholders to cut its valuation to $30 billion.
Factors that have continued to pressure Shein’s business include: the impact of tariff policies, increasingly intense competition from PDD Holdings’ Temu, and regulatory scrutiny across different jurisdictions. If this Hong Kong IPO is successfully completed, it would be Shein’s first successful entry into public capital markets after twice being blocked in the United States and London.
Frequently Asked Questions
What are the expected IPO listing timeline and fundraising size for Shein in Hong Kong?
According to Bloomberg citing people familiar with the matter, Shein could complete its IPO in Hong Kong as early as August 2026, raising between $2 billion and $3 billion; the final amount will depend on the company’s valuation and investor feedback, and related details are still being negotiated.
Why did Shein choose to list in Hong Kong rather than the US or London?
According to reports, Shein previously tried to list in the United States and London but failed; people familiar with the matter said the main reason it abandoned the London plan was that Chinese regulators had delayed approval for the London listing proposal, and the CSRC formally approved the Hong Kong IPO on July 11.
What is Shein’s current valuation level?
According to reports, Shein’s valuation had been more than three times $30 billion (more than $90 billion), but due to business pressures such as shareholder pressure and tariffs, as well as competition from Temu, the valuation has shrunk to about $30 billion.
