Shein clears Hong Kong listing committee for IPO

Shein has won approval from the Hong Kong Stock Exchange listing committee for its initial public offering, three people with knowledge of the matter told Reuters Thomson Reuters Corporation ↘ 0.71% on Friday, bringing the fast-fashion retailer a step closer to its long-awaited market debut.rte

The hearing, held on Thursday, July 16, required Shein executives to answer questions about the company's operations and finances. With that final procedural gate now cleared, the company can proceed with investor roadshows and book-building.tipranks+1

Path to Market

Shein aims to publish its first public listing filing in the week of July 27 and could launch the IPO as soon as late August, though the timetable is not finalized and could shift depending on market conditions. The company has begun arranging marketing meetings with investors.rte

The retailer is seeking a valuation of $40 billion to $50 billion, roughly half the $100 billion it commanded during a 2022 funding round when it first pursued a New York listing. The offering could raise between $2 billion and $3 billion, according to Bloomberg reports.traded+3

Thursday's hearing followed approval from the China Securities Regulatory Commission on July 10, which cleared Shein to issue up to 341.6 million H shares and gave it 12 months to complete the listing. That CSRC clearance removed the largest regulatory obstacle after previous attempts to list in New York and London stalled — the New York plan ran into geopolitical headwinds, while the London effort never secured Beijing's sign-off.straitstimes+3

EU Fees Cloud the Outlook

Even as the listing moves forward, new European fees on low-value e-commerce parcels are weighing on growth prospects. Under rules that took effect this month, duty-free parcels worth less than €150 are now subject to €3 fees per customs code in the European Union. The levies strike at the heart of Shein's ultra-low-cost cross-border model.inspirepreneurmagazine+1

Reuters reported that Shein generated global revenue above $40 billion and nearly $2 billion in net profit in 2025, but growth is expected to weaken this year as the EU charges bite. The headwinds are likely to give investors pause during roadshows and will test appetite for what would be one of Hong Kong's largest IPOs in years.reuters+1