China’s Shein private bids imply $30b valuation drop: sources

Bloomberg

Investors looking to sell stakes in Shein are evaluating bids at discounts of about 30% to its $100 billion valuation in April, according to people familiar with the matter, amid concern about the Chinese fast-fashion giant’s slowing growth.
While some current shareholders in the private company are considering cashing out ahead of a future initial public offering, the valuation spread between buyers and sellers remains a hurdle to any trade, the people said, asking not to be identified because the matter is private.
Slower sales growth and criticism over Shein’s environmental, social and governance record could have an impact on the IPO timeline and valuation, the people said.