Shein has received approval from China's securities regulator to proceed with its long-awaited initial public offering in Hong Kong, after years of unsuccessful attempts to list in the United States and London.

The company plans to issue up to 341.6 million shares, potentially raising billions of dollars according to Bloomberg sources, with the final size determined by valuation.

The listing timeline remains uncertain, amid pressure from investors to lower the company's valuation to around $30 billion, after reaching $100 billion four years ago.

The move to Hong Kong comes as Shein's valuation declines and competition with Temu intensifies, along with the impact of tariffs and increased scrutiny of supply chain and labor practices.

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