Hongkonger Börse: Verhaltener Börsenstart für Modehändler Shein

Chinese e-commerce giant Shein made its long-awaited debut on the Hong Kong stock market on Tuesday. Shares initially traded at 48.56 Hong Kong dollars in the early morning, slightly above the midpoint of the previously announced price range. This valuation placed the company's market value at approximately $26 billion. However, the shares subsequently fell by up to ten percent.

The portion of shares reserved for retail investors was 5.6 times oversubscribed. Institutional investors, according to the company's announcement on Monday, sold 2.6 times the available shares. This level of demand for Shein shares is significantly lower than that for shares of several other Chinese tech companies, some of which saw demand thousands of times higher, such as the robot manufacturer Unitree.

"As Hong Kong investors prefer technology and artificial intelligence companies, the appeal of Shein, a traditional e-commerce firm focusing heavily on price competition, is comparatively limited," said Shen Meng, a director at Beijing-based investment bank Chanson & Co., according to Bloomberg's business service on Tuesday morning.