Shein makes subdued stock market debut on Hong Kong exchange
The Chinese online fashion retailer has now gone public in Hong Kong after a long preparation. Unlike tech companies, the era of euphoria in e-commerce is over for now.
Shein, a Chinese online fashion retailer, made its highly anticipated stock market debut in Hong Kong on Tuesday. The company's shares were initially traded at 48.56 Hong Kong dollars, valuing the company at around 26 billion US dollars. The portion of shares reserved for retail investors was 5.6 times oversubscribed, while institutional investors applied for 2.6 times the available shares. The company's listing was seen as less attractive to Hong Kong investors who prefer AI and tech firms.
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.
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