Shein Shares Fall in Hong Kong Market Debut
Shares of fast-fashion giant Shein declined during their Hong Kong market debut. The listing followed years of regulatory hurdles and shifting plans across New York and London.
Fast-fashion retailer Shein raised HK$13.60 billion ($1.74 billion) in its Hong Kong public debut on Tuesday morning, dropping 3% as regulatory hurdles and policy shifts undercut its valuation. The listing follows a multi-year pivot away from Western exchanges after lawmakers raised forced-labor concerns. That valuation sits at $26 billion, down 71% from a $90 billion peak targeted during initial New York discussions.
