Shein saw its shares fall sharply below its offer price after the fast fashion giant made its long-awaited stock market debut.
The company priced its shares at HK$48.56 (£4.57), raising HK$13.6billion (£1.28bn) and valuing Shein at just over $26billion (£19.2bn).
But shares fell by as much as 10 per cent in early trading on the Hong Kong Stock Exchange on Tuesday, before recovering some ground to trade around 4 per cent lower at HK$46.36 (£4.37).
It marks a significant slump in Shein's value in recent years. The company’s IPO valuation pales in comparison to the $100billion the online fashion firm reached after a private fundraising round in 2022, following a surge in interest during the pandemic among younger consumers.
Shein made its market debut in Hong Kong on Tuesday but shares fell sharply below its offer price
