Shein won approval from China’s securities regulator for its long-awaited Hong Kong IPO on Friday, its third attempt to go public after failed bids in New York and London, according to Reuters. Approval lets Shein line up investor roadshows and a listing-committee hearing, with the company reportedly eyeing a $40B to $50B valuation and a possible September or October debut. Shein’s target sits well below its $100B valuation in 2022 and $66B in 2023, after the U.S. closed a duty loophole on low-value parcels and online-shopping demand cooled. Beijing treated the listing as politically sensitive, reportedly clearing it only at the highest levels after controversies over supplier labor practices, and Shein still faces EU scrutiny and over €200M in French fines.
