Shein’s Hong Kong IPO Sees Valuation Drop 70% to $27 Billion

Fashion retailer Shein is set to raise up to HK$13.86 billion ($1.77 billion) in its Hong Kong IPO, marking a significant decline from its private-market peak valuation. The company, founded in China and headquartered in Singapore, is offering 280 million shares at HK$47.60 to HK$49.50 each, with a potential valuation of nearly $27 billion, down about 70% from its peak of nearly $100 billion in 2022 and $64 billion in 2023 and 2024.…

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