Shopping platform: Shein starts with significant decline on Hong Kong stock exchange
Shein goes public after a long wait. But on its debut in the financial metropolis of Hong Kong, the stock price slips into negative territory. What Shein plans to do with the money.
Shein, a shopping platform, made its stock market debut in Hong Kong with a significant drop in share price. The company's stock fell by around 8% shortly after trading began, to 44-45 Hong Kong dollars, down from the offer price of 48.56 Hong Kong dollars. The company's value is approximately 22.4 billion euros. Shein plans to use the funds raised from the IPO to invest in its technical infrastructure and brand, despite facing challenges such as new customs regulations in the US and Europe. The company was founded in China and later relocated to Singapore.
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.
Also reported by 1 other outlet
- Mode: Shoppingplattform Shein rutscht beim Börsendebüt ins Minus handelsblatt.com
