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SHEIN Prices Hong Kong IPO Near Midpoint of Range, Raises Over HK$13 Billion

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SHEIN Global Holdings (HKG:0625) is set to receive HK$13.2 billion in net proceeds from its initial public offering in Hong Kong after pricing the shares near the midpoint of the indicative range.

The fast-fashion e-commerce company priced 279.9 million H-shares at HK$48.56 apiece, slightly above the HK$48.55 midpoint of the HK$47.60 to HK$49.50 marketed range.

The Hong Kong public offering was 5.63 times subscribed, with nearly 28 million shares allocated, while the international offering was 2.59 times subscribed, with almost 252 million shares allocated.

Cornerstone investors were allotted roughly 61.9 million shares, representing 22.1% of the IPO shares.

SHEIN is set to debut on the Hong Kong bourse on Tuesday, Sept. 1.

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