India, Aug. 24 -- Fast-fashion giant Shein is preparing to make its long-awaited debut on the Hong Kong Stock Exchange on September 1, targeting a valuation of up to $26.8 billion.
The listing follows failed efforts to go public in the US and London, where the company faced regulatory scrutiny over its business and supply-chain practices.
Shein said it plans to offer nearly 280 million shares at between HK$47.60 and HK$49.50 each. At the top of the range, the IPO would raise about $1.77 billion for the company and value it at $26.8 billion. Goldman Sachs, Morgan Stanley and JPMorgan are backing the offering.
The valuation is sharply below Shein's $100 billion valuation in 2022, reflecting slower growth and rising costs. The company repor...