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Shein is asking some of its existing investors to invest in an initial public offering that is supposed to give them an exit. While it's a welcome development for some, a series of failed attempts to go public means skepticism remains.
Bloomberg reported on Thursday that Chinese investment manager Boyu Capital and UBS ***** et Management are in talks to become cornerstone investors in the online fast-fashion retailer's Hong Kong listing. Shein has set aside at least $400 million of stock for cornerstone investors and is seeking to raise about $2 billion overall at a valuation of $26 billion to $27 billion.
Tencent and General Atlantic are among the other existing investors weighing commitments, according to the report.
Boyu is one of Shein's largest identifiable shareholders, owning Series D and D+ preferred shares at prices implying a value of roughly $815 million, according to Shein's draft IPO prospectus. The Hong Kong firm was founded in 2010 by partners including Alvin Jiang, a grandson of Jiang Zemin, leader of the Chinese Communist Party from 1989 to 2002.
#kong #jiang
Shein is asking some of its existing investors to invest in an initial public offering that is supposed to give them an exit. While it's a welcome development for some, a series of failed attempts to go public means skepticism remains.
Bloomberg reported on Thursday that Chinese investment manager Boyu Capital and UBS ***** et Management are in talks to become cornerstone investors in the online fast-fashion retailer's Hong Kong listing. Shein has set aside at least $400 million of stock for cornerstone investors and is seeking to raise about $2 billion overall at a valuation of $26 billion to $27 billion.
Tencent and General Atlantic are among the other existing investors weighing commitments, according to the report.
Boyu is one of Shein's largest identifiable shareholders, owning Series D and D+ preferred shares at prices implying a value of roughly $815 million, according to Shein's draft IPO prospectus. The Hong Kong firm was founded in 2010 by partners including Alvin Jiang, a grandson of Jiang Zemin, leader of the Chinese Communist Party from 1989 to 2002.
#kong #jiang
2 months ago
