IPO: Fashion retailer Shein under pressure before stock market debut
The day before the Hong Kong stock market listing, Shein's shares plummet by more than ten percent in over-the-counter trading. The fashion giant is actually aiming to raise 1.49 billion euros.
Shein shares plummet on over-the-counter trading platforms a day before their official listing on the Hong Kong Stock Exchange. The shares are down by more than 10 percent at several brokerages, trading at 42 Hong Kong dollars on Futu. Shein is set to issue its shares at 48.56 Hong Kong dollars, resulting in a 1.49 billion euro issuance volume and 22.9 billion euro market capitalization.
The company's valuation has dropped significantly from a 2023 funding round, amid increased competition and regulatory hurdles in the US and Europe.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
