Shein guides pricing for Hong Kong IPO

Shein Global Holdings is approaching the pricing stage of its initial public offering in Hong Kong, with the deal expected to raise about HK$13.6 billion, or roughly $1.7 billion. The fast fashion retailer has been marketing around 280 million shares to investors, providing a defined price range and guidance as bookbuilding progresses.

The marketed range for the shares has been set between HK$47.60 and HK$49.50 per share. Within that corridor, current guidance points to a price of about HK$48.56 per share, positioning the final outcome slightly above the midpoint of the range if that level is confirmed.

At the guided price of about HK$48.56, the total proceeds from the offering are estimated at around HK$13.6 billion. This would translate into a deal size of approximately $1.7 billion, based on prevailing exchange calculations used in the marketing materials.

On this basis, Shein’s implied equity valuation would be just above $26 billion. The guidance therefore offers investors a reference point both for the company’s overall market capitalization and for the per‑share pricing relative to the marketed band.

The offering structure, involving about 280 million shares within a relatively narrow price interval, provides a framework for institutional and other prospective investors to assess demand. The guidance at HK$48.56 suggests an effort to balance investor interest with the company’s targeted valuation objectives within the stated range.

As the IPO moves toward final pricing, the focus remains on whether the deal is completed near the guided level or elsewhere within the HK$47.60 to HK$49.50 span. The indicated proceeds and valuation are contingent on the ultimate price selected when the bookbuilding process concludes.