Shein secures nod from Hong Kong listing committee for IPO
Shein won approval from the Hong Kong stock exchange listing committee for an IPO, bringing the fast-fashion retailer closer to its much-awaited stock market debut in the Asian financial hub.
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Sheehan has won approval from the Hong Kong Stock Exchange Listing Committee for an IPO.
That's according to multiple sources on Friday. It brings the fast fashion retailer closer to
its much-awaited stock market debut in the Asian financial hub. The IPO would be one of Hong Kong's
most closely watched listings in years, after Sheehan's earlier efforts to list in New York
and London stalled amid regulatory scrutiny. It would further be a major test of investor
appetite for large consumer deals. Three of the sources said the firm has begun arranging market
meetings with investors. Two sources said the retailer could launch the IPO as soon as late
August, adding the details are not finalized. The Hong Kong Exchange's Listing Committee hearing
on the Sheehan IPO was scheduled for Thursday. The company is required to answer questions about
its operations and finances. Hong Kong Stock Exchange declined to comment and Sheehan did
not immediately respond to comment on the hearing process outcome. Sheehan is seeking a valuation of
$40 billion to $50 billion. That's far less than the $100 billion valuation in a funding round in
2022, according to one of the sources when it first started pursuing a New York listing.