Shein has obtained approval from Chinese authorities to list on the Hong Kong Stock Exchange.

Shein, a low-cost fashion company founded in China and headquartered in Singapore, has been waiting for a year for the green light from the leadership of the Communist Party in Beijing to proceed with its initial public offering (IPO).

Anonymous sources told Reuters that Shein prefers a listing in September or October. The company could sell up to 8% of its shares, although valuations suggest that the amount raised could be under three billion dollars, with an estimated valuation between 40 and 50 billion dollars.

Although Shein was valued at 66 billion dollars in 2023 and at 100 billion dollars in 2022, its plans for an IPO on the London Stock Exchange for June 2024 have been abandoned. Among Shein's investors are prestigious funds such as IDG Capital and Tiger Global Management.