Shein scheduled for Hong Kong IPO hearing on Jul 16, sources say
This brings the fast-fashion retailer closer to its much-awaited market debut
Add BT as a preferred source
[LONDON/ HONG KONG] Fast-fashion retailer Shein is scheduled for a Hong Kong initial public offering (IPO) hearing with the city’s stock exchange on Thursday (Jul 16), two sources with knowledge of the matter said.
The step will bring it closer to its much-awaited market debut.
The fast-growing e-commerce company on Jul 10 received Chinese securities regulator’s nod to go ahead with its Hong Kong IPO plan, which marks the removal of a major hurdle in its long journey of going public.
The sources could not be named as the information was confidential.
Shein did not immediately respond to a Reuters request for comment.
The company will need to answer questions from members of the Hong Kong Stock Exchange’s listing committee during the hearing process.
Once Shein obtains clearance from the stock exchange, it can then proceed to conduct investor roadshows and launching book building for the IPO.
A source told Reuters on Jul 10 that the company could possibly aim to list in September or October, targeting a valuation of US$40 billion to US$50 billion.
Founded by China-born entrepreneur Sky Xu in 2012, Shein had to wait for a year for the green light from Beijing for its Hong Kong IPO after confidentially filing the application last July. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Sheng Siong invests S$520 million to build new future-ready distribution centre
Flight to safety: New citizens and PRs drive Singapore luxury home sales as broader market cools
Singapore banks’ battle for wealth talent goes beyond private bankers
COE: Industry calls for closer look at commercial vehicle category as premiums hit new high
