Exclusive-Shein seeks $30-$40 billion valuation for August Hong Kong IPO, sources say

LONDON/HONG KONG, Aug 4 : Shein is seeking a valuation of $30 billion to $40 billion in a Hong Kong initial public offering (IPO) that the online fast-fashion retailer plans to launch as early as mid-August, three people familiar with the matter said.Shein started pre-deal investor meetings last week, one person said. The deal could be launched in mid-to-late this month, said two of the people, all of whom declined to be named as the plans are confidential. The previously unreported $30 billion-$40 billion IPO valuation target would represent a steep markdown from the $98.2 billion valuation in 2022 and $64 billion valuation achieved in private fundraising rounds in 2023 and April 2024, reflecting mounting business challenges.The IPO valuation and the launch timeline are not final yet and