Shein reportedly delays IPO debut

Chinese fast fashion giant Shein has reportedly delayed its market float following concerns over the listing from investors. According to the South China Morning Post, Shein is now expected to make its Hong Kong debut on September 1, with a lower valuation between 26 to 27 billion dollars.

The media outlet said Shein is planning to introduce cornerstone investors alongside existing shareholders, with bookbuilding to now begin from August 24. The IPO process was initially expected to be complete by the end of August. The company has not yet publicly commented on the reports.

Shein was speculated to have previously been eyeing a valuation between 30 and 40 billion dollars, yet is said to have lowered expectations after meeting with investors to discuss the issue. The company is also targeting around two billion dollars in new capital and is believed to be considering cash payouts and modifications to share terms for investors who bought in at higher valuations.