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Chinese fast-fashion giant Shein plans to raise up to around US$1.8 billion in its Hong Kong IPO. At the high end of its proposed range, the company would have a $26.8 billion market cap.
Why it matters: This would establish Shein as one of the world's most valuable public clothing companies, but it's still a massive disappointment for many of its VC backers.
By the numbers: Shein raised Series F funding in 2022 at a $100 billion valuation, but one year later raised at $66 billion — still well above IPO expectations.
