Shein Seeks $30-40 Billion Valuation for Hong Kong IPO

Shein is targeting a valuation of $30 billion to $40 billion for a Hong Kong IPO planned for August, according to sources. The fast-fashion company is seeking the listing this month. Other Asia-based tech firms, including Alibaba-backed 3D-modeling startup Vast and MediaTek-backed African fintech PalmPay, are also weighing Hong Kong IPOs.