Rome, 24 Aug. (LaPresse) – Shein is set to list on the Hong Kong Stock Exchange on 1 September, with a valuation of around 27 billion US dollars and plans to raise up to 13.86 billion Hong Kong dollars (1.7 billion US dollars). The fast-fashion company will offer 280 million shares and intends to use the funds to enhance its technological capabilities and expand its international presence. Although it has moved its headquarters to Singapore to circumvent Chinese regulatory controls, Shein continues to benefit from China’s robust textile and logistics network. The final price will be announced on 31 August, but the highest figure would value the company at around 26.8 billion US dollars. Founded in China and now based in Singapore, Shein finally secured Beijing’s approval last month for its initial public offering in Hong Kong.
Business: Shein to list on the Hong Kong Stock Exchange on 1 September
Rome, 24 Aug. (LaPresse) – Shein is set to list on the Hong Kong Stock Exchange on 1 September, with a valuation of around 27 billion US dollars and plans to raise up to 13.86 billion Hong Kong dollars (1.7 billion US dollars). The fast-fashion company will offer 280 million shares and intends to use the funds to enhance its technological capabilities and expand its international presence. Although it has moved its headquarters to Singapore to circumvent Chinese regulatory controls, Shein continues to benefit from China’s robust textile and logistics network. The final price will be announced on 31 August, but the highest figure would value the company at around 26.8 billion US dollars. Founded in China and now based in Singapore, Shein finally secured Beijing’s approval last month for its initial public offering in Hong Kong.