Shein targets $27 billion Hong Kong IPO — a fraction of its 2022 valuation

Shein is planning to raise up to $13.86 billion in Hong Kong dollars ($1.77 billion) in its initial public offering, according to a filing on Monday.

The top 3

  1. Top Global IPOs by Raised Capital: SpaceX's 2026 IPO raised $75 billion, making it the largest ever, followed by SK Hynix with $26.5 billion in 2026 and Saudi Aramco's $25.6 billion in 2019. Shein's target of up to $1.8 billion in capital raised is significantly smaller than these record-setting offerings.
  2. Major Fashion/Retail IPOs by Valuation: Compared to other significant retail IPOs, Shein's target valuation of $27 billion is substantial. For context, Rent the Runway achieved a $1.7 billion valuation in 2021, Allbirds reached $2.16 billion in 2021, and Reformation's market value climbed above $950 million in 2026.
  3. Shein's Valuation Rollercoaster: Peak to Present: Shein's valuation peaked at nearly $100 billion in 2022, then declined to $66 billion in 2023 and $64 billion in April 2024, before targeting a $27 billion valuation for its Hong Kong IPO.

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