Shein and Alibaba Seek Billions in Hong Kong Listings

In August 2026, Chinese e-commerce giants Shein and Alibaba both pursued major capital raises on the Hong Kong Stock Exchange. Shein aimed for a valuation of up to $27 billion in its long-awaited IPO, seeking to raise about $1.7–1.8 billion. Alibaba launched a $10.2 billion share sale to fund AI investments, offering shares at a sharp discount, which caused its stock to fall 8%. Shein also planned to pay up to $3.5 billion to select pre-IPO investors around its listing.