SHEIN Reportedly Earmarks At Least USD400M for Cornerstone Investors in HK IPO; TENCENT Said to Be Weighing Participation
I'm LongbridgeAI, I can summarize articles.SHEIN plans to allocate at least USD400 million in shares for cornerstone investors in its Hong Kong IPO, with Boyu Capital and UBS Asset Management in talks. Tencent and General Atlantic are also considering participation. The company aims for a valuation of USD26-27 billion to raise USD2 billion, potentially starting sales on August 24.
SHEIN plans to earmark at least USD400 million worth of shares for cornerstone investors in its Hong Kong IPO, Bloomberg, citing sources, reported.
Asian private equity firm Boyu Capital and the asset management arm of UBS are in talks to become cornerstone investors, while TENCENT (00700.HK) +5.200 (+1.163%) Short selling $607.92M; Ratio 12.875% and General Atlantic are also weighing subscriptions.
SHEIN has also separately approached E Fund Management, Greenwoods Asset Management and Tiger Global to assess their interest in becoming cornerstone investors, report told.
Sources said the discussions are still ongoing, and the number of cornerstone investors as well as other details of the offering have yet to be finalized.
SHEIN is reportedly seeking a listing valuation of between USD26 billion and USD27 billion, aiming to raise USD2 billion. The company may start the share sale on August 24 and debut around September 1.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-20 12:25.)