Fast-fashion giant Shein is looking to raise up to US$1.77 billion in a long-awaited Hong Kong public offering. The company is offering 280 million class B shares for 47.60 Hong Kong dollars to HK$49.50 each, with net proceeds of about HK$13.12 billion (US$1.67 billion). Shein, founded in Nanjing and based in Singapore, has faced geopolitical tensions between China and the West during its lengthy IPO journey.

The company previously considered listings in the United States and New York Stock Exchange before settling on Hong Kong. Funds will strengthen technology infrastructure, invest in AI and data analytics, and enhance brand awareness and global presence. Shein expects shares to trade on the Hong Kong exchange on Sept. 1.

Cornerstone investors include Tencent, General Atlantic and Tiger Global. Write to Shein at [EMAIL].