Shein Backers Offer to Sell at 30% Discount as IPO Prospects Dim
- Investors trying to sell in recent months but few takers
- Sliding offer prices cast a cloud on much-anticipated US IPO
This article is for subscribers only.
Shein investors are trying to sell shares in private market deals that value the online fashion giant at as low as $45 billion, reflecting dwindling appetite for a company struggling with intensifying competition and regulatory scrutiny ahead of a long-awaited US debut.
Shareholders offered stock at valuations ranging from $45 billion to $55 billion in late 2023, people familiar with the matter said. That’s down from the roughly $66 billion Shein achieved during a May round of fundraising. But they struggled to find buyers even at those depressed levels, raising the prospect of a further loss of value, the people said, asking to remain anonymous discussing private transactions.