Shein Shares Decline Following Stock Market Debut
Shares of fast-fashion retailer Shein fell by approximately 10% during their market debut in Hong Kong. The company, which had previously faced challenges listing in the U.S. and U.K., continues to contend with ongoing scrutiny regarding labor and ethical practices.
First reported 2 weeks ago · latest update 1 week ago
Shares in the fast-fashion retailer Shein experienced a significant decline during the company’s long-anticipated trading debut on the Hong Kong stock exchange. The stock price fell by as much as 10% on Tuesday, with some reports indicating that the decline exceeded 10% during pre-debut trading.
The Singapore-headquartered company, which was founded in China, officially went public with a share price of HK$48.56. This valuation places the total worth of the business at just over $26 billion. This figure represents a substantial decrease from the company's previous peak valuation, which reached nearly $100 billion at one point.
The move to list in Hong Kong follows a series of unsuccessful attempts by the retailer to launch an initial public offering in the United States and the United Kingdom. The company has faced years of public scrutiny and backlash regarding its labor practices and various ethical concerns, which have persisted throughout its growth.
The debut marks a pivotal moment for the firm after years of speculation regarding its public market entry. Despite the company's massive influence in the global fast-fashion sector, the initial market response has been characterized by a notable slump in share value.
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Fast-fashion retailer Shein shares fall more than 10% in pre-debut trading - Reuters
Fast-fashion retailer Shein shares fall more than 10% in pre-debut trading Reuters
2 weeks agoShein shares slide on fast-fashion retailer’s stock market debut
Hong Kong flotation at $26bn by firm once valued at $100bn follows failure to list in US and UKShares in the fast-fashion brand Shein slumped by as much as 10% as the China-founded company made its long-anticipated trading debut on the Hong Kong stock exchange.The Singapore-headquartered company, once valued at almost $100bn (£74bn), went public on Tuesday pricing shares at HK$48.56, valuing the business at just over $26bn. Continue reading...
1 week ago · Mark SweneyShein shares fall up to 10% after long-awaited trading debut
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