Shein’s IPO in Hong Kong raises $1.7 billion amid China's AI and robotics boom
- Chinese fast fashion giant Shein goes public in Hong Kong today, selling 280 million shares to raise $1.77 billion.
- That prices the company at about $27 billion — roughly 70% below the $98 billion it was valued at in 2022.
- Its model relied on a US rule letting cheap parcels enter tariff-free. Trump scrapped it, and the business hasn't recovered.
- Shein lost $99 million last quarter, against a $395 million profit a year earlier. It tried listing in New York and London first, and failed both times.
Source: economictimes.indiatimes.com
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