WHAT HAPPENED
8 billion) when it makes its long-awaited stock market debut in Hong Kong, which trading experts believe to be 1 September. The Singapore-headquartered fast fashion retailer is offering almost 280 million Class B shares at between HK$47. The final offer price is due to be announced by 11pm on 31 August, with trading expected to begin the following day. Shein shared in the stock market filings that it plans to use the proceeds to strengthen its technology and support international expansion, with around 90% of the shares to be available to overseas investors. Goldman Sachs and Morgan Stanley are among the investment banks backing the listing, while cornerstone investors are expected to purchase $383 million of shares.
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