The Globe and Mail reports in its Thursday, Aug. 13, edition that Shein has cut its expected IPO valuation to $30-billion to $40-billion from nearly $100-billion but faces scrutiny over whether slowing growth, rising costs and market changes justify that price (all figures U.S.). A Reuters dispatch to The Globe reports that investors reviewing Shein's recent presentations and financials ahead of its Hong Kong offering, expected as early as Aug. 19, doubt the fast-fashion retailer can regain the growth rates that previously valued it near $100-billion in 2022. An investor says Shein's management highlighted opportunities to expand its portfolio of in-house brands. An investor, who questioned whether that represented a meaningful new growth avenue. A lower price would have consequences for Shein's ownership as under terms in its IPO filing, the company's founders would be required to provide extra shares to certain pre-IPO investors if the valuation falls below agreed thresholds. Morgan Stanley analysts estimate a "fair value range" of $39-billion to $52-billion in a report provided to potential Shein investors. Morgan Stanley, is a sponsor on Shein's IPO alongside Goldman Sachs and JPMorgan.