Shein’s advisers are pitching the company to potential investors at a valuation below $30 billion, the Financial Times reported on Monday, citing people familiar with the matter.
The level compares with a valuation of more than $100 billion that Shein hit after a private fundraising in 2022, the report said, citing sources.
While the online fast-fashion retailer set an internal target valuation of $30 billion, it may have to go back and consult with its existing investors before proceeding with an IPO at a lower level, the report added.
Shein, which manufactures in China but has its corporate headquarters in Singapore, may struggle to convince major Chinese institutional investors to buy shares in the IPO, the report said.
Reuters, citing sources, reported last week that Singapore-headquartered Shein is aiming for a $30 billion to $40 billion valuation in a Hong Kong initial public offering (IPO) that it plans to launch as early as the middle of this month.
Shein was not immediately available for comment.
Reuters
