Shein falls nearly 8% on Hong Kong debut
- 1Fast-fashion company Shein's shares fell nearly 8% on Tuesday, the first day of trading on the Hong Kong stock exchange.
- 2The company raised HK$13.6 billion ($1.7 billion) after pricing its IPO at HK$48.56 per share the previous day, with shares trading at HK$44.8 early in the session.
- 3The debut follows failed listings in the U.S. and U.K., and the company's valuation, once estimated at around $100 billion, is now roughly a quarter of that.
This 3-line summary is compiled from the report below.
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