Shein saw its shares fall sharply below its offer price after the fast fashion giant made its long-awaited stock market debut.

Shein completed its Hong Kong IPO at a $26.5B valuation, raising $1.7B. The price marks a 70% decline from its 2022 peak amid slowing growth and

Investors will find how much the company is initially valued at when it makes its debut on the Hong Kong stock exchange on Tuesday.

On its debut, Shein is valued well below its 2022 peak of nearly US$100 billion.