According to three sources familiar with the situation, the fast fashion online retailer Shein intends to conduct an Initial Public Offering (IPO) on the Hong Kong Stock Exchange with a valuation in the range of $30 to $40 billion USD (equivalent to 495–660 billion Rands). The company plans to launch the IPO as soon as possible, possibly in mid-August.
A week ago, Shein began meetings with potential investors ahead of the deal. According to two of these individuals, the deal could take place in the middle or end of this month, although all sources declined to give their names as the plans remain confidential.
The target valuation represents a significant drop for Shein. Its value previously reached $98.2 billion in 2022, subsequently declining to $64 billion in 2023 and again in April 2024 during private funding rounds amid slowing growth and increased external pressure.
These individuals reported that the target IPO valuation, which was not previously public, as well as the launch timeline, are not yet final and may change after receiving feedback from investors.
The Singapore-based company founded in China did not immediately comment in response to inquiries about the size of the IPO, the offering price, and the listing schedule, as this data has not been publicly disclosed.
The draft IPO prospectus submitted last month stated that the company incurred a quarterly loss of $99 million due to slowing sales after the US revoked duty exemptions on small parcels, as well as due to a large one-time accounting write-off.
Although part of the losses were related to a $328 million fair value impairment on convertible preferred shares following an accounting change, slowing revenue growth and weakening key profit indicators point to growing business difficulties.
Margin contraction also raises concerns that Shein's rapid expansion is encountering obstacles caused by higher trading costs, tightening regulatory scrutiny, and increased competition in global e-commerce.
One source reported that Shein, known for selling dresses for 200 Rands and jeans for 400 Rands to customers in about 160 countries, prioritizes a price that can support the stock post-listing, rather than maximizing the valuation.
Some potential key IPO investors insist on a valuation closer to $30 or $32 billion. The source added that Shein held meetings with investors in New York, Boston, and San Francisco last week.
Achieving a valuation of $30 to $40 billion would place Shein's IPO roughly on par with H&M, whose valuation is around $26 billion, but it would be significantly lower than Fast Retailing, owner of Uniqlo, valued at $161 billion, and Inditex, parent company of Zara, valued at $208 billion.
Shein received approval from the China Securities Regulatory Commission (CSRC) for listing in Hong Kong on July 10, paving the way for the placement after unsuccessful attempts in New York and London.
In its draft prospectus, the company stated its intention to use the proceeds from the offering to finance technological investments, build a global brand, corporate social responsibility initiatives, and general corporate needs.
The eThekwini Municipality is considering various options to avoid annual expenses of 67 million rand for renting office premises for its various departments. A report on the municipality's office placement strategy and feasibility assessment was presented at a council meeting in July.
During a recent Executive Committee (EXCO) meeting, Mayor Cyril Shabha expressed concern regarding the long-term strategy for municipal office placement and its ongoing reliance on rented spaces. He called for a comprehensive evaluation and the development of a holistic strategy.
In the report presented to the council, the Property Assessment and Management Directorate provided information on the results of the acquisition process for the Urban Lime building, the municipality's current lease obligations, past placement initiatives, and preliminary strategic options for forming a sustainable long-term strategy.
The municipality's procurement history shows that it has consistently and proactively sought various solutions for office accommodation over several years. The results also indicate that market constraints, compliance requirements, counterparty and procurement issues have negatively affected the availability of suitable office space in Durban's Central Business District (CBD).
The municipality attempted to purchase the Urban Lime building for 113 million rand on Anton Lembede Street to secure long-term office accommodation. Despite reaching an advanced stage in the process, the deal did not materialize because the seller could not obtain tax compliance status.
The municipality believes that renting remains necessary under the following circumstances: when municipal housing is unavailable or does not meet operational needs; when there are urgent placement requirements; when departments require decentralized operational placement; or when alternative long-term placement initiatives are under study or implementation.
The report emphasizes that renting continues to provide operational flexibility and continuity of accommodation. It is also noted that existing lease agreements remain operationally necessary in the short and medium term. The municipality stated: 'Significant immediate capital investment would be required to replace the current leased area. Long-term placement planning requires a gradual assessment of alternative placement models.'
The municipality is also exploring the Centrum redevelopment initiative as part of a broader approach to consolidating office space, considering integrated multi-story development starting from 2030. This initiative will be pursued independently and will be the subject of a separate special report to the council. According to preliminary benchmarking, the development could potentially exceed 1 billion rand depending on the building specifications, parking requirements, infrastructure, site conditions, and scale of development.
The municipality noted: 'After accounting for lifecycle costs, maintenance, and operational ownership, the effective annual cost of ownership could potentially exceed the municipality's current rental expenses in the short and medium term.'
Xiaomi reinforced its position in the Brazilian market by launching devices that offer good performance and attractive features. For those looking for a new phone, three options from the Redmi line, currently available on Amazon, were selected for comparison and choice according to the consumer profile.
The Redmi Note 15 features 8 GB of RAM and 256 GB of internal storage, ensuring smooth navigation between multiple tasks and ample space to store photos, videos, and applications. Its black version has an elegant and sober look for daily use.
The Xiaomi Redmi 15C, in Midnight Black, is recommended for users who want a complete device without compromising memory capacity. This model combines stable performance with a modern and discreet design, also featuring 8 GB of RAM and 256 GB of storage.
Additionally, the Redmi Note 15 can be found in a blue version, maintaining the same powerful specifications of 8 GB of RAM and 256 GB of storage, making it an ideal alternative for those seeking expressiveness without sacrificing performance.
It is advisable to check stock on Amazon immediately, as product availability may change at any time. Readers are encouraged to access the links, compare the different models, and take advantage of the offers.
The Vivo Anti-spam tool, developed to block fraudulent and unwanted calls, has begun to be questioned by other telecommunications operators. These companies allege that the system is also preventing calls considered legitimate.
While Vivo maintains that its technology aids in combating fraud and automated calls, its competitors point out that the filter has impacted contacts from health units, businesses, and public services.
This service is automatically activated on new Vivo lines and analyzes calls before they reach subscribers. The operator explains that the system can identify mass calls and those of a fraudulent nature, in addition to combating the spoofing technique used to disguise the real origin number of the call.
The controversy was brought to the National Telecommunications Agency (Anatel) after at least seven companies registered a challenge regarding the blocks made by the tool. The main complaint is that the filter is interrupting crucial communications, even when these are not related to abusive practices.
Eduardo Tude, president of the consultancy Teleco, commented that the functioning of telephone anti-spam is analogous to that of an email filter, emphasizing that there is no perfect system capable of blocking only what is improper.
The central points raised by the companies include: the blocking of calls considered valid by public bodies and companies; the lack of transparency in the system's operating criteria; the negative effect on security, education, and health services; and blocks involving numbers already authenticated by the Verified Origin system.
Adyl Telecom notified Anatel about the interruption of more than 16,000 calls since the beginning of June, reporting that hospitals and government entities were affected by these blocks.
Another example occurred in the city of Araçatuba. 3corp Technology, responsible for municipal telephony, reported that over 800 numbers used by the public administration were blocked, with these lines being used for health, security, and education services. After negotiations with Vivo, 3corp managed to release these numbers. Other companies, such as Net2Phone Brasil, Agera Telecomunicações, Ateky Internet, and Ágil Telecom, also reported difficulties with the filter's operation.
Anatel communicated that it is analyzing the statements presented by both the companies and Vivo, aiming to establish an understanding applicable to each specific situation.
Vivo assures that it has been providing this feature since November 2024 and conducted tests with approximately 700,000 users before expanding the functionality to its entire active base. According to the operator, the system operates in two phases: first, it verifies if the call has authentication, and subsequently, it evaluates the profile of the number making the contact.
The company declares that it does not block calls that comply with the standards of the service and the STIR/SHAKEN system, used by Verified Origin. Vivo stated: 'Only companies that make mass calls without identification will be blocked.' Furthermore, the operator informs that affected numbers can be submitted for analysis through the company's website, and customers have the option to deactivate the feature via the Vivo application if they do not wish to use it.
Currently, the debate focuses on defining a standard that can maintain the block against abusive calls without, however, interrupting legitimate contacts established by public services and companies.
