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Shein IPO debut disappoints: Fashion Giant tanks 10% on Hong Kong listing, valuation drops

News Snapshot:

Shein IPO listing: Shein Global Holdings Ltd. shares fell as much as 10% during their Hong Kong trading debut, marking a subdued start to an initial public offering that took years to reach the market. The listing valued the fast-fashion giant at a fraction of its once-expensive valuation.Shein shares fell to a low of HK$43.72, compared with the IPO price of HK$48.56 per share. According to a Bloomberg report, the pricing gave Shein a market capitalisation of slightly more than $26 billion.The valuation makes Shein one of the world's largest publicly traded apparel and fashion companies, although it remains behind…

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