Shein Wins China Approval for Hong Kong IPO Targeting $40B Valuation

On Friday, Shein secured the green light from China's securities regulator for an initial public offering in Hong Kong, marking a significant milestone in its pursuit of going public. The firm intends to offer 341.6 million H shares, aiming for a potential listing in the third quarter of 2025, with a valuation target between $40 billion and $50 billion. Shein is scheduled to present before the Hong Kong Stock Exchange's listing committee on Thursday. This approval comes after a year-long wait since its application was submitted last July. Although Shein has moved its base to Singapore, it remains subject to Chinese regulations due to its manufacturing operations in China. Founded by Sky Xu in 2012, the company operates in over 160 countries, facing challenges from geopolitical tensions, including a failed U.S. filing in November 2023 and difficulties in London.