Fast-fashion giant Shein is preparing to launch its long-awaited Hong Kong initial public offering as soon as Aug. 19, moving closer to a stock market debut after years of regulatory hurdles and failed listing attempts in the U. The Singapore-headquartered company has already begun marketing the offering to investors and could formally launch the IPO next Wednesday,Reuters reported. Shein is targeting a valuation of between $30 billion and $40 billion, a fraction of the nearly $100 billion valuation the company commanded at the height of the fast-fashion boom. The IPO would mark a major milestone for Shein, which has spent years attempting to secure a public listing while facing scrutiny over its supply chain, trade practices and ties to China.