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Online fast-fashion retailer Shein's valuation has dropped by around 70% from a near $100 billion private market peak four years ago, as it aims to raise up to HK$13.86 billion ($1.77 billion) in its Hong Kong IPO launched on Monday. Illustration of the Shein section on the 6th floor of the BHV Marais, Bazar de l Hotel de Ville in Paris, France, on Aug. 5, 2026 Shein is selling 280 million shares between HK$47.60 and HK$49.50 per share, the filings showed, valuing it at close