Shein has obtained clearance from the China Securities Regulatory Commission to pursue a planned Hong Kong listing, marking progress in the retailer’s prolonged push toward going public.
According to the regulator, the fast-fashion company intends to offer as many as 341.6 million shares as part of the initial public offering (IPO).
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The move comes after earlier bids to list in New York and London failed to materialise, with several reports indicating Shein had spent approximately a year awaiting sign-off from Chinese authorities for an overseas share sale.
Established in China and now based in Singapore, the company continues to require Chinese regulatory clearance for any listing outside the mainland.
Citing a source, a Reuters report said that Shein is expected to target September or October for the Hong Kong offering.
While the company has signalled it may float up to 8% of its shares, the source indicated the actual proportion sold is likely to come in lower than that figure.
Based on a potential valuation of between $40bn and $50bn for the IPO, proceeds from the offering would fall in the low single-digit billions of dollars.
The retailer had previously been valued at $100bn in 2022, before that figure fell to around $66bn during a fundraising round in May 2023, the report noted.
Separately, Shein continues to face regulatory challenges in Europe.
In May, Ireland’s Data Protection Commission launched a probe into how the company handles the transfer of European users’ personal data to China, looking into whether Shein Ireland has complied with its duties under the EU’s General Data Protection Regulation.
In June, France’s DGCCRF watchdog imposed fines totalling €22.5m ($26.1m) on two Shein-linked entities for breaching consumer protection and environmental disclosure requirements on its French site.
That total included a €5.7m penalty against Infinite Styles Ecommerce Co Limited, which sells Shein-branded goods, stemming from a 2025 investigation.
