Approval marks a key step for the fast-fashion retailer after U.S. and London listing attempts stalled amid regulatory scrutiny.
China’s securities regulator approved Shein’s Hong Kong initial public offering at a targeted $40 billion valuation. The company plans to issue 341.6 million H shares, with a listing possible as early as Q3 2024.
Shein’s IPO efforts faced setbacks after a U.S. filing collapsed due to political and regulatory pressure. A London listing attempt also failed after Beijing withheld necessary approvals. The Hong Kong application was submitted last July.
The Hong Kong Stock Exchange’s listing committee will review the application Thursday. Approval would allow roadshows and bookbuilding to proceed, potentially valuing Shein between $40 billion and $50 billion.