Shein cuts Hong Kong IPO valuation target to $25 billion

Fast-fashion retailer Shein Global Holdings Ltd. is targeting a valuation between $26 billion and $27 billion for its initial public offering in Hong Kong. Some reports indicate the company may cut this valuation target to $25 billion. This current valuation range represents a sharp drop from the company's peak value. These figures are based on information from people familiar with the matter as the company prepares for its market debut in the Hong Kong financial hub.