Hong Kong, 1 Sept. (LaPresse) – Shares in online fast-fashion giant Shein fell by around 10 per cent following its stock market debut in Hong Kong on Tuesday, after a lengthy delay in the listing. Shein raised around $1.7 billion, at a price of 48.56 Hong Kong dollars (US$6.19) per share, in its initial public offering in Hong Kong, one of the city’s largest share offerings this year. “Shein’s listing in Hong Kong marks a new starting point,” said Leigh Gui, Shein’s chief financial officer, in a brief speech during the listing ceremony. However, in early trading, the shares fell to around 44 Hong Kong dollars.
Shein shares plunge, down 10% after Hong Kong debut
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Hong Kong, 1 Sept. (LaPresse) – Shares in online fast-fashion giant Shein fell by around 10 per cent following its stock market debut in Hong Kong on Tuesday, after a lengthy delay in the listing. Shein raised around $1.7 billion, at a price of 48.56 Hong Kong dollars (US$6.19) per share, in its initial public offering in Hong Kong, one of the city’s largest share offerings this year. “Shein’s listing in Hong Kong marks a new starting point,” said Leigh Gui, Shein’s chief financial officer, in a brief speech during the listing ceremony. However, in early trading, the shares fell to around 44 Hong Kong dollars.
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