Shein investors selling stock at 30% discount- Bloomberg News

A Shein logo is pictured at the company’s office in the central business district of Singapore, Oct 18, 2022. REUTERS/Chen Lin/File Photo

Shein’s investors are trying to sell shares in the private market at prices that value the Chinese online retailer as low as $45 billion, or a discount of around 30 percent to its valuation about a month back, Bloomberg News reported on Thursday.

Shareholders’ stock sales in late 2023 valued Shein between $45 billion and $55 billion, Bloomberg said, citing people familiar with the matter.

Shein, according to Reuters sources, was valued at $66 billion in a fundraising in May.

READ: Chinese fast-fashion retailer Shein files for U.S. IPO – WSJ

Shein did not immediately respond to a request for comment.

The fashion giant, which sells cheap fashion in more than 150 countries, has been facing several complications as it seeks Beijing’s nod to go public in the United States.

The Cyberspace Administration of China conducted a cybersecurity review of the company in mid-January, the Wall Street Journal reported.

Meanwhile, its rival Temu filed a lawsuit last month alleging Shein employed “Mafia-style intimidation” to coerce suppliers common to both companies to stop working with Temu.