Shein seeks $1.8 billion in IPO at sharply lower valuation

HONG KONG: Fast-fashion giant Shein is seeking to raise up to US$1.8 billion in a Hong Kong initial public offering that would value the company at close to $27 billion, roughly 70 percent below its private-market peak four years ago.

The China-founded, Singapore-headquartered retailer launched the sale of 280 million shares at between HK$47.60 and HK$49.50 each, according to company filings. At the top of the r