Shein is set to raise HK$13.6 billion (US$1.73 billion) in a Hong Kong initial public offering, targeting 280 million shares priced near the midpoint of its HK$47.60‑HK$49.50 range. The company, headquartered in Singapore and founded in China, launched its long‑awaited offering on Monday. A source said the shares are expected to price at HK$48.56 each. The IPO is anticipated to proceed as scheduled pending regulatory approval. Shein declined to respond to a request for comment. The offering will be priced at the middle of the marketing band, according to two people familiar with the deal.