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Chinese online fashion giant Shein announced plans to raise $1.77 by selling 280 million in its long-awaited IPO on the Hong Kong Stock Exchange.
Shein is going public in Hong Kong, but its 73% valuation plunge highlights mounting cost, regulatory pressures, and a reputational crisis.
Alibaba has launched Wan3.0, the latest version of its video generation model, days after raising roughly $10.2bn in a Hong Kong share placement whose proceeds it has earmarked entirely for AI. The sequencing is not subtle, and it is not meant to be, since the company has spent the past fortnight arguing to investors that its capital […] This story continues at The Next Web...
The online retail giant known for selling extremely cheap clothes has been planning to float since 2023...
Oil tankers moored at Tsing Yi port in Hong Kong.
The group had reportedly been worth more than 100 US dollars ( 73.3 billion) at its peak following a private fundraising in 2022.
The fast-fashion giant's shares are due to start trading in Hong Kong on 1 September.
Shein is planning to raise up to $13.86 billion in Hong Kong dollars ($1.77 billion) in its initial public offering, according to a filing on Monday.
Known for selling cheap clothing, the online retailer has seen its value drop sharply from earlier estimates amid scrutiny over its environmental footprint Shein will debut on the Hong Kong stock exchange on 1 September, the fast-fashion retailer said on Monday, in a long-awaited listing that would value the group at close to $27bn. Founded in China and now headquartered in Singapore, the online retailer secured Beijing's approval last month to make its initial public offering in Hong Kong....
Alibaba shares plunged 10% after the tech giant priced a $10.2 billion share placement to fund its growing AI investments.
A deal by the Chinese e-commerce and cloud computing giant would mark the largest-ever primary follow-on offering by a Hong Kong-listed company.
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