MarketPR
A $27bn valuation is what Shein is seeking from a Hong Kong initial public offering, a figure that lands at just over a quarter of the fast-fashion retailer's earlier peak.
Two prior listing attempts, in New York and then London, were both derailed by opposition before the company turned to Hong Kong.
Hong Kong is now the third venue in the company's search for a public market willing to take the deal. The New York and London episodes did not collapse on valuation alone.
That history shapes every conversation around whether the current $27bn ask is the right clearing price or simply the opening position before Hong Kong allocators weigh in.
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