Shein Set to Raise $1.7 Billion in Hong Kong IPO

Shein is on track to raise about HK$13.6 billion ($1.7 billion) in its Hong Kong initial public offering. The company is telling prospective investors it is likely to price the IPO at just above the midpoint of the marketed range, valuing the fast-fashion retailer at just above $26 billion, compared with a roughly $100 billion price tag it commanded four years ago. Anthony Stephens reports on…