Fast-fashion giant Shein sets cut-price $27bn valuation for Hong Kong IPO

China-based retailer swung to $99m loss in first quarter and faces scrutiny over its environmental footprint Business live – latest updates 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…