Shein just went public at about 25% of its peak valuation

After months of delays, accelerated manner behemoth Shein went nationalist connected Tuesday astatine a fraction of its highest valuation.

On Monday, the Singapore-headquartered retailer priced its IPO astatine 48.56 Hong Kong dollars, aliases $6.19, per share, offering astir 280 cardinal shares. It raised much than HK$13.2 cardinal successful the IPO.

Its valuation astatine the IPO value was $26.3 billion, down from its $100 cardinal backstage valuation successful 2022, according to a Wall Street Journal study successful April 2022. The Journal cited group acquainted pinch the matter during a backing information that Shein conducted that year.

The banal sewage disconnected to a bumpy commencement connected its first time connected Tuesday. Five minutes aft it started trading, it mislaid astir 9% of its IPO price. It has since recovered slightly, trading for astir HK$46.60 astir noon section time.

In its prospectus, released connected August 24, Shein wrote that it plans to usage astir 40% of its IPO proceeds to heighten its technological capabilities and different 40% to fortify its world marque awareness.

Shein has made awesome inroads into the West successful caller years. The US is its biggest user market, and it besides saw monolithic maturation successful the UK successful 2024. A 2021 study by the BBC wrote that Shein adds astir 6,000 caller items to its scope daily.

But the IPO comes aft a reliable twelvemonth for Shein. Last year, while imposing his first activity of tariffs successful April, President Donald Trump ordered the closure of the de minimis waste and acquisition loophole that allowed mini packages nether $800 to participate the US tax-free. He besides imposed tariffs of up to 120% connected the parcels, though these were subsequently reduced.

Shein was 1 of the biggest beneficiaries of the US de minimis loophole and was deed difficult by waste and acquisition restrictions successful its largest user market. The institution was forced to raise its prices successful the US successful April.

The institution was besides nether scrutiny by respective user watchdogs successful caller months. In May 2025, the European Commission went aft Shein for engaging successful aggregate practices "in breach of EU law," specified arsenic offering clone discounts and making misleading sustainability claims.

It faced different probe successful December, erstwhile the Texas Attorney General Ken Paxton said he had launched an investigation into Shein for imaginable violations "related to unethical labour practices and the waste of unsafe user products."