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Shein shares stumble after mega $1.7 billion IPO, falls 10% on Hong Kong listing

News Snapshot:

Shein Global Holdings Ltd. experienced a decline of up to 10% in its shares during its debut on the Hong Kong stock exchange, following an initial public offering that generated HK$13.6 billion ($1.7 billion).The shares dropped to a low of HK$43.72, in contrast to the IPO price of HK$48.56, which positioned the company just above the midpoint of its marketed range. As per a Bloomberg report, this valuation resulted in a market capitalisation of slightly over $26 billion, establishing it as one of the largest publicly traded apparel and fashion firms globally, although still trailing behind Swedish retailer Hennes &…

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