Shares in the fast-fashion brand Shein slumped by as much as 10% as the China-founded company made its long-anticipated trading debut on the Hong Kong stock exchange. The Singapore-headquartered company, once valued at almost $100bn (£74bn), went public on Tuesday pricing shares at HK$48.56, valuing the business at just over $26bn. However, minutes after the flotation, which raised HK$13.6bn, the stock fell as much as 10%, pushing the online retailer’s valuation below $25bn. Shein’s share price recovered most of its early trading plunge, closing at HK$48.50, just 0.12% down on…
Tag: IPOs
Fast-fashion giant Shein aims for $27bn valuation in Hong Kong market debut
Shein will debut on the Hong Kong stock exchange on 1 September, the fast-fashion retailer said on Monday, in a long-awaited listing that would value the group at close to $27bn. Founded in China and now headquartered in Singapore, the online retailer secured Beijing’s approval last month to make its initial public offering in Hong Kong. Its valuation has dropped by about 70% from a near $100bn private market peak four years ago, as it aims to raise up to HK$13.86bn ($1.77bn) in its Hong Kong IPO launched on Monday.…
Shares in humanoid robot firm Unitree surge 600% on Chinese stock market debut
Unitree, the world’s biggest humanoid robot maker, has made a spectacular entry on to China’s stock market, with its shares surging by more than 600%. The Chinese company’s robots have gained global fame via viral videos of them performing martial arts, running at Olympic speeds and serving as backup dancers for pop stars. Two Unitree robots in a fighting demonstration at the World Robot Conference in Beijing on Wednesday. Photograph: Adek Berry/AFP/Getty Images Shares in the business, officially known as Yushu Technology Co, rose to as high as 1,100 yuan…
Shein warns on Trump tariff uncertainty after profits slip
Shein has reported a 20% rise in global revenues to $37bn (£27.7bn) but profits have fallen as the fast-fashion retailer faced increased costs, even before it felt the impact of recent changes to US tax laws. The Singaporean parent company of the rapidly growing retailer said pre-tax profits had fallen by 13% to $1.3bn last year from $1.5bn in 2023 after an increase in selling and marketing costs, according to new accounts. Shein is thought to be trying to list on the Hong Kong stock exchange after efforts to list…
Shein looks at moving back to China for Hong Kong listing after London IPO stalls
The online fashion retailer Shein is understood to be considering moving its base back to China from Singapore to pave the way for a Hong Kong listing. The business, which was founded in China and moved its headquarters to Singapore in 2022, had been considering a £50bn float in London after failing to win approval from regulators in the US for a New York flotation. However, Chinese authorities have not given the nod to a UK listing and the fast-fashion group has faced questions about conditions in its supply chain…
Shein turns to Hong Kong for flotation as London attempt stalls, reports say
Shein is reportedly aiming to list on the Hong Kong stock exchange as the online fast-fashion retailer struggles to gain the go-ahead from Chinese regulators for a flotation in London. The company, which was founded in China where the majority of its suppliers are based but now has its headquarters in Singapore, is aiming to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks, according to Reuters. It said Shein plans to go public in the Asian financial hub this year, which would scotch hopes of…