Shein Is Finally Going Public, But Far From the Valuation Once Expected for the Company

Shein's targeted valuation represents a steep reset from previous fundraising rounds. (Credit: Julie Sebadelha/AFP via Getty Images)

Fast-fashion giant Shein is preparing to launch its long-awaited Hong Kong initial public offering as soon as Aug. 19, moving closer to a stock market debut after years of regulatory hurdles and failed listing attempts in the U.S. and U.K.

The Singapore-headquartered company has already begun marketing the offering to investors and could formally launch the IPO next Wednesday, Reuters reported.