---
title: "Shein IPO: From $100B Hype to a $26B Public-Market Test"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000882356.md"
description: "$SHEIN-W(00625.HK) Shein has finally reached the public market.The company listed in Hong Kong under 00625 HK / SHEIN-W, with an IPO price of HK$48.56 and an implied valuation of about US$26bn-26.5bn.Tha..."
datetime: "2026-09-02T06:56:58.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000882356.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000882356.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000882356.md)
author: "[SG Visual Research](https://longbridge.com/en/profiles/24298178.md)"
generator: "portal-rs"
---

# Shein IPO: From $100B Hype to a $26B Public-Market Test

$SHEIN-W(00625.HK)   
Shein has finally reached the public market.

The company listed in Hong Kong under 00625 HK / SHEIN-W, with an IPO price of HK$48.56 and an implied valuation of about US$26bn-26.5bn.

That is a very different number from the near US$100bn private-market valuation Shein once commanded in 2022.

The key lesson is not just about Shein. It is about the gap between private-market storytelling and public-market discipline.

In private markets, growth, scale and user momentum can carry the valuation.

In public markets, investors also price profit durability, regulation, tariffs, supply-chain risk, competition and cash-flow visibility.

Shein’s IPO is therefore more than a fast-fashion listing. It is a real-time test of whether cross-border consumer platforms can still command tech-style valuations under heavier regulation and weaker profit visibility.

For information and educational purposes only. Not investment advice.

### Related Stocks

- [00625.HK](https://longbridge.com/en/quote/00625.HK.md)

## Comments (1)

- **Steve_Z · 2026-09-03T06:48:30.000Z**: it has kept sliding since, trading near 42 today which puts it roughly fourteen percent under the offer price rather than just below the debut level.


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**