Global Markets: Shein eyes up to $3 billion Hong Kong IPO as soon as August, Bloomberg News reports

Shein has received approval from China's securities regulator for a Hong Kong IPO, aiming to raise up to 3 billion US dollars as soon as August. The fast-fashion retailer is targeting a valuation of 40 billion to 50 billion dollars, down from a peak of about 100 billion dollars in 2022. The listing marks a shift after previous attempts to go public in the United States and London did not materialise.