Shein IPO Delayed: Market Debut Pushed to September

Shein's highly anticipated Hong Kong IPO has been postponed, with its market debut now slated for September. This shift follows a slight delay in the process of taking investor orders for the fast-fashion giant's initial public offering. The company, founded in China in 2012 and known for affordable clothing sold in approximately 160 countries, is reportedly planning to introduce multiple cornerstone investors. However, most of these positions are expected to be filled by existing shareholders. Investment banks involved in the deal are reportedly considering using their own funds to act as cornerstone investors. The IPO's valuation is also significantly lower than previously anticipated, reportedly around $25 billion, a substantial decrease from nearly $100 billion seen in a previous share sale.