ECM

SHEIN (希音) IPO: Analysis of Deal Terms

24 Aug 2026 By Ke Yan, CFA
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Abstract: SHEIN, a global online fashion and lifestyle retailer, launched its Hong Kong IPO to raise USD 1,768m. GS, MS and JPM are the joint sponsors. In this note, we look at the deal terms and recap our valuation note for the company. We analyze cornerstone and sponsor performance and assess the risk-reward of the deal.

ZIJIN GOLD INTL (2259 HK) LUXSHARE ICT (2475 HK) ZJ INNOLIGHT (3308 HK) CATL (3750 HK) Fast Retailing (9983 JP) ASC LN (ASC LN) Coupang (CPNG US) ITX SM (ITX SM) Vipshop (VIPS US)

Highlighted Stocks

ZIJIN GOLD INTL, LUXSHARE ICT, ZJ INNOLIGHT, CATL, Fast Retailing, ASC LN, Coupang, ITX SM, Vipshop

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