Shein targets Hong Kong market debut on Sept 1, sources say - The Business Times

Shein targets Hong Kong market debut on Sept 1, sources say Shein plans to introduce multiple cornerstone investors Summarise Share Add BT as a preferred source Add BT as a preferred source Published Thu, Aug 20, 2026 · 07:06 PM — Updated Fri, Aug 21, 2026 · 12:52 PM While Sept 1 is the target date, the listing could happen a few days later, one of the sources said. PHOTO: REUTERS SHEIN aims to launch its Hong Kong initial public offering on Monday, according to a source familiar with the matter, and is targeting a listing on Sept 1, two other sources said, slightly later than previously planned. While Sept 1 is the target date, the listing could happen a few days later, one of the sources said. Reuters reported last week that Shein had been aiming to list on Aug 28. The delay, first reported by the South China Morning Post , comes as slower growth and rising costs have dampened investor appetite for Shein. The online fast-fashion retailer was seen just a few years ago as a disruptive challenger to established retailers such as H&M and Zara, thanks to its rapid supply chain and ultra-low prices. Among cornerstone investors in the IPO is the asset management arm of UBS Group, which would be investing in Shein for the first time, according to a fourth source with direct knowledge of the matter. A spokesperson for the Swiss bank declined to comment. A number of Shein’s existing shareholders are also in talks to join as cornerstone investors but the list has not been finalised, said the fourth source and another person with knowledge of the process. Asean Intelligence Get insights into businesses across South-east Asia Get the free report Cornerstone investors agree to buy a set amount of shares before an IPO, and sign up to a lockup period of six months. Shein is targeting a valuation of US$26 billion to US$27 billion, the fourth source said, down sharply from the US$100 billion valuation it achieved in a private fundraising in 2022. The company had previously sought an IPO valuation of US$30 billion to US$40 billion when investor meetings ahead of the IPO first kicked off. SEE ALSO Shein eyes company valuation of around US$25 billion in Hong Kong IPO Shein is said to consider Aug 28 for Hong Kong trading debut Shein finds there’s no place like China after Vietnam warehouse experiment disappoints Shein seeks US$30-$40 billion valuation for August Hong Kong IPO: sources Shein proposes cash payouts, more shares for late-stage investors ahead of IPO Shein flags tariff hits after posting quarterly loss ahead of Hong Kong IPO More Shein did not respond to a request for comment. The Singapore-headquartered company may ‌offer payouts to early investors as well as more shares with lower conversion price for their holdings to lower their costs of investment, its public filings showed. REUTERS Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free. Shein IPO Share with us your feedback on BT's products and services Feedback TRENDING NOW Jardine C&C selling Singapore, Malaysia dealerships to Indonesia’s Chandra Asri for US$221 million gain Singapore’s AI boom is lifting GDP. Who gets carried along? How BYD disrupted Singapore’s car market – and why the strategy is turning on itself From sales executive to DBS chairman: A look at banking veteran Peter Seah’s career