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Fast-fashion giant Shein says it plans to raise up to HK13.86bn (£1.3bn; $1.77bn) when its shares start trading on the Hong Kong stock market on 1 September.
In a filing on Monday, external, Shein said it will offer nearly 280 million shares for between HK$47.60 and HK$49.50.
At the top of the range, it would value the firm at almost $27bn (£19.8bn). But that is much lower than the $100bn valuation it reached in a round of private fundraising in 2022, reflecting weaker sales growth and higher costs.
The long-awaited move debut comes after failed attempts to list in the US and London due to regulatory challenges amid scrutiny of Shein, which has its headquarters in Singapore but was founded in China.
The initial public offering (IPO) is being backed by Wall Street investment giants Goldman Sachs, Morgan Stanley and JP Morgan.
In July, Shein said it had swung to a quarterly loss as its sales slowed after US President Donald Trump removed an import duty exemption on small packages.
The company said it lost $99m in the first three months of the year, compared with a net income of $395m a year earlier.
It also came as uncertainty remains over the tit-for-tat US-China tariffs wars, which is currently paused.
