SHEIN Global Holdings Ltd (Ticker: 625 HK) is a Chinese global online fast-fashion and lifestyle retailer selling a broad range of affordable, trend-driven clothing, accessories, beauty and lifestyle products, supported by a data-driven, on-demand supply chain designed to rapidly introduce new styles. The company served approximately 273 million active customers across around 160 markets in 2025. Founded in China and headquartered in Singapore, SHEIN plans to list on the Hong Kong Stock Exchange on September 1, 2026.

According to published terms, SHEIN plans to offer approximately 280 million Class B shares at HKD47.60-HKD49.50 per share, raising up to approximately HKD13.86 billion ($1.77 billion). At the top of the range, the IPO would value the company at around $26.8 billion. The offering consists entirely of primary shares and includes a 15% greenshoe option of approximately 42 million shares. Goldman Sachs, Morgan Stanley and JPMorgan are among the banks backing the offering.