Shein's up to US$1.8 billion Hong Kong IPO order book covered, sources say

HONG KONG: Online fast-fashion retailer Shein's Hong Kong IPO book to raise up to US$1.8 billion has been fully covered by investor demand, two sources said, bringing it closer to its long-awaited market debut amid growing business and regulatory challenges.Shein launched its new share sale on Monday (Aug 24), valuing the company at up to US$27 billion.Investor orders for the offering have come from a number of existing shareholders, China-focused and multi-strategy funds, said the sources with knowledge of the matter. They declined to be named as they were not authorised to speak to the media.A spokesperson for Shein did not immediately respond to a Reuters request for comment. The Singapore-based, China-founded company is selling 280 million shares at HK$47.60 to HK$49.50 a share in the