Singapore-based fast-fashion retailer Shein is planning to launch its long-awaited initial public offering in Hong Kong as soon as Wednesday next week, Reuters reports, citing two people familiar with the matter.

This is part of the online retailer’s push to revive its public-market ambitions amid slowing growth and mounting pressure on its margins.

Shein has been marketing the share offering to investors this week, one of the two sources and a third person familiar with the plans said.

The company is targeting a valuation of between $30 billion and $40 billion in the IPO, Reuters reported last week. If achieved, that would represent a steep reduction from the valuation investors placed on Shein during its private-market fundraising rounds.

Shein was valued at about $98.2 billion in 2022, making it one of the world’s most valuable private companies at the time. That valuation fell to about $64 billion in 2023 and again in April 2024, according to previous funding rounds.

The proposed Hong Kong listing therefore represents a major reset in expectations for a company that once stood among the fastest-growing names in global e-commerce.

Shein has built its business around an ultra-low-cost, rapidly changing fashion model, selling products such as dresses for around $5 and jeans for about $10 to customers in roughly 160 countries. Its platform relies heavily on data analytics and rapid production cycles to identify emerging consumer trends and quickly introduce new designs.

That model helped Shein expand rapidly, particularly among younger consumers, but the company now faces a more difficult operating environment.

Revenue growth has slowed while core earnings have weakened, putting pressure on the company’s ability to sustain the pace of expansion that supported its earlier private-market valuations. Shrinking margins have also raised questions about how much of Shein’s low-price advantage can be preserved as trade costs increase and governments impose greater scrutiny on the cross-border e-commerce model.

The U.S. has become an important source of that pressure. Shein’s business has been affected by the removal of an import-duty exemption for small packages, a policy change that increases the cost of sending low-value shipments directly to American consumers. The company swung to a quarterly loss of $99 million after the change, although the result also included a $328 million fair-value charge related to convertible redeemable preferred shares following an accounting change.

The impact of U.S. trade policy is weighing on Shein because its business model depends heavily on shipping large numbers of inexpensive products directly to consumers. Changes to the treatment of small parcels can therefore have a disproportionate effect on costs and margins.

Shein is also facing intensifying competition. Traditional retailers and established online marketplaces have expanded their low-cost fashion offerings, while rivals such as Temu have adopted similarly aggressive pricing and cross-border e-commerce strategies.

At the same time, regulators in the U.S., Europe and other markets have increased scrutiny of fast-fashion companies over issues including product safety, consumer protection, labor practices, environmental impact and the treatment of low-value imports. Last year, the Trump administration ended the de minimis, which has helped Shein and other Chinese retailers gain larger market shares.

The Hong Kong listing will put Shein’s financial performance under much closer public-market scrutiny. Investors are likely to focus not only on sales growth but also on gross margins, marketing costs, logistics expenses and the company’s ability to maintain customer growth without sacrificing profitability.

The proposed valuation range also suggests that Shein may have to convince investors that its earlier growth trajectory can be restored or that it can generate stronger earnings from a more mature business.

For Hong Kong, Shein’s listing would provide another major technology and consumer-internet offering for a stock market seeking to attract large international companies. A successful float could also provide a useful test of investor appetite for high-growth consumer companies at a time when markets are demanding greater evidence of sustainable profits.

Additionally, a public listing is expected to provide Shein with access to a broader pool of capital and create publicly traded shares that could be used for acquisitions, employee compensation and future fundraising. But the sharp decline from Shein’s 2022 private valuation means the IPO is likely to be viewed as a test of how much value investors are willing to assign to the fast-fashion model after years of rapid expansion.

The company has not publicly confirmed the proposed launch date or final valuation, and the size and pricing of the offering could still change before the listing.

ntel has expanded its planned share sale to $20 billion, seeking to capitalize on a dramatic rally in its stock and raise fresh capital for the costly expansion of its chip manufacturing and foundry operations as demand for artificial intelligence computing accelerates.

The company said on Tuesday it would sell common stock at $95 a share, up from the $15 billion offering announced a day earlier. The offering is expected to generate about $19.7 billion in net proceeds after underwriting discounts, commissions and other expenses. It is scheduled to close on August 12.

The enlarged offering is one of the clearest signs yet that Intel is using the sharp recovery in its share price to strengthen its balance sheet and finance a capital-intensive turnaround. Intel shares have surged 175% in 2026 and have quintupled over the past year, giving the company a substantially stronger currency with which to fund its manufacturing ambitions.

The move also highlights the enormous financing requirements created by the global AI infrastructure boom. Technology companies are spending hundreds of billions of dollars on data centers, processors, networking equipment and advanced semiconductor manufacturing as they race to expand computing capacity.

Goldman Sachs estimates that capital spending by major technology companies will reach about $765 billion this year and $1.2 trillion in 2027, underscoring the scale of the investment cycle that Intel is seeking to capture.

Intel said the proceeds would be used for general corporate purposes, including capital expenditures and working capital. The company has identified physical AI, purpose-built silicon and advanced packaging as major growth opportunities, while its foundry business remains central to its strategy of becoming a major contract chip manufacturer.

The company has been increasing investment in new manufacturing capacity and advanced packaging as it attempts to compete with industry leader TSMC in the contract manufacturing market. Intel raised its 2026 capital expenditure forecast to $20 billion last month after reporting its fastest revenue growth in nearly 15 years.

Chief Financial Officer David Zinsner said at the time that most of the spending would go toward factory tooling and warned that investment could rise meaningfully in 2027.

The capital raise therefore comes at a critical point in Intel’s transformation. The company needs to fund new factories and process technologies while also proving that its foundry business can attract enough external customers to justify the enormous investment required.

Intel’s 14A manufacturing process is scheduled for high-volume production in 2028. The company had previously warned that the technology could be shelved if it failed to secure a major external customer, highlighting the importance of customer commitments to its foundry strategy.

The company has said Tesla is a customer for its 14A technology, while President Donald Trump has said Apple will manufacture processors with Intel. Apple has not confirmed that arrangement.

Intel is also benefiting from a broader push by Washington to rebuild domestic semiconductor manufacturing and reduce U.S. reliance on overseas production. The U.S. government agreed to take a 10% equity stake in Intel as part of efforts to strengthen domestic chipmaking capacity, providing another source of political and financial support for the company’s turnaround.

The share sale, however, comes with an immediate cost for existing shareholders: dilution. Intel’s decision to increase the offering from $15 billion to $20 billion means substantially more new shares will enter circulation. The market’s reaction will therefore depend on whether investors view the additional capital as a necessary investment in future growth or as evidence that Intel’s transformation requires more cash than previously expected.

Intel has given underwriters a 30-day option to purchase an additional $2.25 billion of common stock, potentially taking the total size of the transaction above $22 billion.

This move is happening as Intel is attempting to finance its expansion after one of the strongest periods for its stock in years. The rally has given the company an opportunity to raise capital at a much higher valuation than would have been possible during its prolonged downturn.

But execution has been fingered as a major challenge. Analysts note that Intel must convert the capital into manufacturing capacity, secure external foundry customers and generate returns that justify continued investment. The AI boom has created a powerful demand tailwind, but the company is competing against established semiconductor manufacturers with deeper foundry relationships and extensive manufacturing expertise.

The offering also boosts the view that AI demand is no longer benefiting only GPU designers such as Nvidia. It is driving investment across the entire chip supply chain, from memory and advanced packaging to semiconductor fabrication and data-center infrastructure.