IPO News | Online fashion and lifestyle company SHEIN-W launches bookbuilding, plans to list on September 1, with a minimum lot subscription amount of HKD 4,999.92

Futu News, August 24: $SHEIN-W (00625.HK)$ Announced that the IPO will take place from August 24 to August 27. The company plans to offer approximately 280 million shares globally and expects to list on September 1.

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Company Overview

SHEIN is a global online fashion and lifestyle company that served approximately 273 million active customers across about 160 markets in 2025. By offering a rich variety of highly inclusive, frequently updated, and cost-effective products, the company meets diverse consumer needs and reshapes how consumers pursue fashion.

The company pioneered its proprietary operating model, "Large-scale Automated Test and Reorder" (LATR), which is the ultimate solution to the industry's long-standing trilemma. This model enables the company to achieve an optimal balance among product diversity, speed of new design launches, and inventory management efficiency. The company has a global network of partners. As it makes its supply chain more agile, robust, and resilient, the company empowers partners to develop and grow alongside it.

Financial Overview

In recent years, Shein's net revenue has grown significantly, reaching US$32.1 billion, US$38.7 billion, and US$41.8 billion in 2023, 2024, and 2025, respectively. For the same periods, the company's net profit amounted to US$2.789 billion, US$3.365 billion, and US$2.064 billion, respectively. Additionally, the company's operating profit was US$1.376 billion, US$966 million, and US$1.707 billion in 2023, 2024, and 2025, respectively.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, Shein expects the net proceeds from the global offering to be approximately HK$13.123 billion (calculated based on the mid-point of the offer price of HK$48.55, assuming the over-allotment option is not exercised). According to the prospectus, Shein intends to allocate the funds raised from the global offering for the following purposes:

Approximately 40% will be used to enhance the company's technological capabilities; approximately 40% will be used to increase brand awareness and strengthen its global footprint; approximately 10% will be used to reinforce the company's corporate responsibility initiatives; and approximately 10% will be used for general corporate purposes.