Shein's IPO valuation drops sharply from peak estimates

Shein has filed privately for a stock market listing in the United States. The fast-fashion company is now targeting a value of around $27 to $30 billion. This is much lower than the $100 billion value it reached in 2022. Goldman Sachs, JPMorgan Chase, and Morgan Stanley are helping to manage the process. Shein previously tried to list in London, but those plans failed because of regulatory problems. The company also considered listing in Hong Kong. Shein was founded in China and is now based in Singapore. It sells trendy clothes at very low prices and has become bigger than Zara and H&M in the US market. Investors have agreed to support the listing, but only at the reduced price.