Fast fashion giant Shein valued at up to $27 billion in Hong Kong IPO

Online fast-fashion retailer Shein’s valuation has dropped ?by ?around 70% from a near $100 billion private market peak four years ago, as it aims to raise up to HK$13.86 billion ($1.77 billion) in its Hong Kong IPO launched on Monday. Shein is selling 280 million shares between HK$47.60 and HK$49.50 per share, the filings showed, valuing ?it at close to $27 billion at the top of that range. The valuation has dropped sharply from earlier private fundraising rounds that valued Shein at $98.2 billion in 2022. The company was valued at $64 billion in 2023 and April 2024. The company…