Shein launched its initial public offering in Hong Kong to raise up to HK$13.86 billion ($1.77 billion). The retailer plans to sell 280 million shares. The price range is set between HK$47.60 and HK$49.50 per share.
The offering values the company at up to $27 billion. This figure marks a sharp decline from its $100 billion peak valuation in 2022.
Shein expects to set the final price on August 31. Trading will begin on the Hong Kong exchange on September 1.
The listing follows unsuccessful attempts to go public in the U.S. and London due to regulatory scrutiny. Goldman Sachs, Morgan Stanley, and JPMorgan serve as joint sponsors for the deal.