Shein worth only half as much at IPO

Shein plans to go public on the Hong Kong Stock Exchange this month and is aiming for a valuation of 30 to 40 billion U.S. dollars. That is much less than the fashion giant was once worth, as new import tariffs are eroding its profitability.

On par with H&M

Shein is expected to go public in mid-August. In recent weeks, the company has already held meetings with investors in New York, Boston, and San Francisco. Potential cornerstone investors are reportedly pushing for a valuation between 30 and 32 billion dollars. Shein is also said to prefer a cautious IPO with stable share price performance over the highest possible price at the outset.