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Shein Shares Fall on HKEX Debut
Fast fashion company Shein was launched in Hong Kong’s Bourse and successfully raised around $1.7 billion from its initial public offering. However, its trading on the market began with a sharp decline of 17.6%, as the stock price dropped to HKD 40 compared to the offering price of HKD 48.56. This decrease reflects investor caution and a drop in the company's market valuation, which reached approximately $25.5 billion after listing, down from its earlier peak during the market boom of around $100 billion in 2022. The company's weak start in performance suggests that its investments in technology and international expansion may take time to prove their ability to support growth and restore its market valuation.
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