Shein to Price Hong Kong IPO at $26.5 Billion Valuation

Shein, the global fast-fashion retailer, is set to price its Hong Kong initial public offering at approximately HK$48.56 per share, according to people familiar with the matter. The pricing, near the midpoint of its marketed range, would raise about HK$13.6 billion (US$1.73 billion) and value the company at roughly US$26.5 billion. The final IPO price is expected to be announced on August 31, with trading on the Hong Kong Stock Exchange scheduled to begin on September 1. The valuation represents a significant decline from the company's previous private-market peaks.