Online fast-fashion retailer Shein is planning to launch its Hong Kong initial public offering as soon as Wednesday of next week, two people with knowledge of the matter said on Tuesday. The Singapore-based company has been marketing the share offering to investors this week, said one of the two sources and a third source with knowledge of the marketing plans. Shein is targeting a valuation betweenUS$30 billion to $40 billionin the IPO,Reutersreported last week. The long-awaited float comes as slowing revenue growth and weaker core earnings weigh on Shein’s business, while shrinking margins have also raised concerns its breakneck expansion is running into headwinds from higher trade costs, tighter regulatory scrutiny and intensifying competition across global e-commerce. The retailer, known for selling $5 dresses and $10 jeans to shoppers in about 160 countries, swung to a$99 million quarterly lossafter the US removed an import duty exemption on small packages and a $328 million fair-value charge on convertible redeemable preferred shares following an accounting change.