July 10 (Reuters) – Fast-fashion retailer Shein is likely to aim for its Hong Kong initial public offering in September or October, said a source familiar with the situation, after the company won approval from the Chinese securities regulator on Friday.
Shein has indicated it could sell up to 8% of its shares but the final level is likely to be lower, the source said. With a possible IPO valuation of $40 to $50 billion, the amount raised would be in the low single digits.
Shein was valued at $100 billion in a 2022 fundraising, but the company will compensate investors for the decline in valuation by giving them money to buy shares in the offering, the source added.
(Reporting by Reuters, Editing by Louise Heavens)
