Shein Shares Fall in Gray Market Ahead of Hong Kong Debut

Shares of fast-fashion giant Shein fell sharply in gray-market trading on Monday, August 31, 2026, one day before the company's highly anticipated debut on the Hong Kong Stock Exchange. The decline cast a shadow over the initial public offering, which raised $1.7 billion but valued the company at a fraction of its former peak. Trading data from major Hong Kong brokerages showed Shein's shares dropping more than 10% from their IPO price of HK$48.56. At Futu Securities, the stock was quoted around HK$42, representing a significant loss for investors who participated in the offering.