Fast fashion giant Shein launches up to $1.8 billion Hong Kong IPO

HONG KONG, Aug 24 : Online fast-fashion retailer Shein launched book building for a Hong Kong initial public offering on Monday, aiming to raise up to HK$13.86 billion ($1.77 billion), valuing it at up to $26.81 billion, according to an offering prospectus.Shein is selling 280 million shares for a minimum of HK$47.60 per share and a maximum of HK$49.50 per share, the filings showed. The company will price the IPO on August 31 and debut on September 1.The long-awaited float comes as slowing revenue growth and weaker core earnings weigh on Shein's business, while shrinking margins have also raised concerns that its breakneck expansion is running into headwinds from higher trade costs, tighter regulatory scrutiny and intensifying competition across global e-commerce.Shein, known for selling $