Once a high-flying fast-fashion retailer, Shein\u2019s Hong Kong market debut fell short of expectations.\u2060
\n\u2060
\nOn September 3, the group’s stock fell as low as HK$41.24 ($5.25), down from the listing price of HK$48.56. Shares closed almost 9% lower at HK$42, valuing the company at $22.7bn.\u2060
\n\u2060
\nThe IPO value represents a sharp fall from its peak, when pandemic lockdowns and social media hype from ‘Shein hauls’ drew young consumers to its affordable fashion.\u2060
\n\u2060
\nThe company was valued at about $100bn following a private fundraising round in 2022. However, investor enthusiasm began to ebb later that year and the next fundraising valued Shein at $66bn.\u2060<\/p>\n
#shein #fastfashion #clothing #clothingapparel #ipo #hongkong #initialpublicoffering
\n#shorts #shortsvideo #shortfeed #shortsviral #shortsyoutube #shortsvideos<\/p>\n
Produced by Paolo Pascual.<\/p>\n
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