Shein may cut IPO valuation by £10bn as pressure mounts

Shein is facing pressure to further slash its valuation ahead of its listing on the London Stock Exchange.
The fast fashion giant could be forced to reduce its valuation to around £23.83bn ($30bn), Bloomberg News reported, with its shareholders indicating an amendment is needed to complete the listing in the UK.
It comes after reports earlier this month emerged that Shein ‘s London IPO could be cut from £50bn to around £40bn ($50bn), making it nearly a quarter less than i