WHAT HAPPENED
Shein will debut on the Hong Kong stock exchange on September 1, the fast-fashion retailer said on Monday, in a long-awaited listing that would value the group at close to US$27 billion. The final price will be announced on August 31, but the higher figure would value the company at around US$26. Founded in China and now headquartered in Singapore, Shein finally won Beijing’s approval last month to make its initial public offering in Hong Kong. Plans to list in New York and London had been held back in recent years by regulatory hurdles, according to media reports. With most of its factories located in China, Shein sets itself apart from its competitors thanks to the speed of its product design and its highly efficient production and supply chain.
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