Shein's Hong Kong IPO lands at ~70% below its $100B peak
Shein's long-frustrated float is finally landing in Hong Kong, but at a valuation near $27 billion, roughly 70% below the near-$100 billion it once commanded. The US and Europe scrapped tariff exemptions on cheap imports, undercutting the low-cost model and stalling growth. Now it's raising up to $1.8 billion to fund AI and logistics, and investors are asking if that's enough.