Fast-fashion giant Shein lowers value to $27bn for Hong Kong IPO
by Alex Daniel from World news | The Guardian on (#77WW2)
China-based retailer swung to $99m loss in first quarter and faces scrutiny over its environmental footprint
Shein, which built a fast-fashion empire on what seemed like impossibly low prices, has been forced to lower its own valuation in a cut-price stock market float, after falling into the red earlier this year.
The online retailer will list on the Hong Kong stock exchange on 1 September at a valuation of close to $27bn (19.8bn), significantly down from a near-$100bn private market peak four years ago.
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