Online fast-fashion retailer Shein is set to raise up to HK$13.86 billion ($1.77 billion) through its Hong Kong IPO, with its valuation falling sharply from its private-market peak as investors take a more cautious view of its growth prospects.
Shein launched its Hong Kong IPO on Monday, offering 280 million shares at HK$47.60 to HK$49.50 apiece. At the upper end, the company would be valued at nearly $27 billion.
