SHEIN Targets Hong Kong IPO in Q3 2026 at $40 Billion Valuation, Plans to Issue 342 Million Shares

According to Zhitong Finance, SHEIN is preparing for a Hong Kong IPO as soon as Q3 2026, targeting a valuation exceeding $40 billion (approximately 312 billion Hong Kong dollars). The China Securities Regulatory Commission announced last Friday that it has received SHEIN's overseas listing registration materials; the company plans to issue no more than 342 million shares on the Hong Kong exchange.

The fashion e-commerce platform initially pursued a U.S. listing, which faced obstacles in 2024, then attempted a London IPO but failed to secure Chinese government approval. In a 2023 funding round, SHEIN was valued at approximately $66 billion, though valuations have declined amid increased competition from rivals like Temu.