Fast-fashion giant Shein sets cut-price $27bn valuation for Hong Kong IPO

China-based retailer Shein will list on the Hong Kong stock exchange with a valuation of close to $27 billion for its IPO. This proposed valuation is significantly lower than the near-$100 billion private market peak it achieved four years ago. Furthermore, the company reported a $99 million loss in the first quarter and faces scrutiny over its environmental footprint.