Shein is seeking a valuation of $30-40 billion in a Hong Kong initial public offering (IPO) that the online fast-fashion retailer plans to launch as early as mid-August, three people familiar with the matter said. Shein started pre-deal investor meetings last week, one person said. The deal could be launched in mid-to-late this month, said two of the people, all of whom declined to be named as the plans are confidential. The valuation target marks a dramatic reset for Shein, whose worth peaked at $98.2 billion in 2022 before falling to $64 billion in 2023 and April 2024 in private…