Fast-fashion giant Shein shrinks value to $27 billion, at best, in Hong Kong IPO

HONG KONG — Online fast-fashion retailer Shein’s valuation has dropped by around 70% from its 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. The long-awaited Hong Kong IPO comes after Shein, known for selling $5 dresses and $10 […]