Shein aims for almost $27bn valuation in stock market debut

ByOsmond Chia Business reporter. 24 August 2026, 02: 23 BST.

Key points

• In a filing on Monday, external, Shein remarked it will offer almost 280 million shares for between HK$47.60 and HK$49.50.
• Since it was founded in 2008, Shein has risen to become one of the world's biggest fast-fashion retailers, with customers in more than 150 countries.
• The initial public offering (IPO) is being backed by Wall Street investment giants Goldman Sachs, Morgan Stanley and JP Morgan.
• The firm stated it lost $99m in the first three months of the year, compared with a net income of $395m a year earlier.
• At the top of the range, it would value the firm at almost $27bn (£19.8bn).

Fast-fashion giant Shein notes it aims to raise up to HK13.86bn (£1.3bn; $1.77bn) when its shares start trading on the Hong Kong stock market on 1 September.

At the top of the range, it would value the firm at almost $27bn (£19.8bn). But that is much lower than the $100bn valuation it reached in a round of private fundraising in 2022, reflecting weaker sales expansion and higher costs.

In practice, the long-awaited move comes after failed attempts to list in the US and London due to regulatory challenges against the backdrop of scrutiny of Shein. It has its headquarters in Singapore but was founded in China.

Meanwhile, the initial public offering (IPO) is being backed by Wall Street investment giants Goldman Sachs, Morgan Stanley and JP Morgan.

In July, Shein remarked it had swung to a quarterly loss as its sales slowed after US President Donald Trump removed an import duty exemption on small packages.

Meanwhile, the firm stated it lost $99m in the first three months of the year, compared with a net income of $395m a year earlier.

It additionally came as uncertainty remains over the tit-for-tat US-China tariffs wars. It is at present paused.

"In response to the increased duties and taxes, we are pursuing a wide range of options, including increasing our prices in the US market to offset a portion of the increased costs, " Shein remarked at the time.

Meanwhile, the firm additionally noted the Iran war had hit demand, climbed costs and caused delays of deliveries in some markets.

For context, the first-quarter figures additionally partly reflected a paper loss of $328m due to an accounting change for special investor shares. The shares can be turned into ordinary stock afterwards, and their value can change before a listing.

Meanwhile, the e-commerce giant is known for selling ultra-cheap clothes, backed by a vast network of factories in China that are able to rapidly manufacture new products based on the latest trends. Its revenue has far outstripped rivals like H&M and Zara.

As of the end of March 2026 Shein had 281 million active customers – a rise of more than 16% on a year earlier – who placed a total of more than one billion orders.

But Shein's fast-fashion business has faced reservations over its environmental impact, and allegations of forced labour in supply chains. Shein has previously informed the BBC it has a "zero tolerance for forced labour".

Its attempt to go public on the London Stock Exchange collapsed after the firm came under scrutiny over its refusal to answer questions concerning its supply chain practices.

In short, shein aims for almost $27bn valuation in stock market debut is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.