Shein Shares Fall 10% in Hong Kong IPO Debut

Shein, the Chinese-founded ultrafast fashion giant, made its long-awaited stock market debut in Hong Kong on Tuesday, September 1, 2026, with shares falling sharply in early trading. The company raised approximately $1.7 billion in the initial public offering, but its valuation of around $26.5 billion represents a dramatic decline from its peak private valuation of nearly $100 billion in 2022.

Shares opened at the IPO price of HK$48.56 before sliding to as low as HK$43.72, a drop of roughly 10 percent. The weak debut followed a period of gray-market trading on Monday, August 31, where shares had already fallen more than 10 percent from the offer price. The listing marks the largest new share sale in Hong Kong so far this year, but the immediate market reaction underscores significant investor skepticism about the company's growth prospects and business model.

Shein's path to going public was fraught with setbacks. After announcing its intention to list at the end of 2023, the company faced blocked attempts to float on the New York Stock Exchange and in London. These efforts were hampered by intense scrutiny over its business practices, including allegations of forced labor...