{
  "id": 4643625,
  "title": "Shein shares plunge on grey market ahead of Hong Kong debut",
  "url": "https://urgent.news/2026/08/31/shein-shares-plunge-on-grey-market-ahead-of-hong-kong-debut",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T11:53:23.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/international/shein-shares-plunge-grey-market-ahead-hong-kong-debut"
  },
  "original_language": "en",
  "account": "Shein's shares plummeted to as low as HK$40.04 in the grey market on Monday (August 31), prior to the Chinese fast-fashion retailer's anticipated debut on the Hong Kong stock exchange. The shares plummeted 17% in value, compared to their initial public offering price of HK$48.56, according to KGI Securities' trading platform. Over 63 million shares were traded during this period. The company had raised US$1.7 billion in Hong Kong, resulting in a market value of US$26 billion – a stark contrast from its previous valuation of US$100 billion. Concerns over limited growth potential and tariff headwinds continue to loom over the stock as it prepares to debut on Tuesday. Despite Shein's IPO valuing the company at more than 15 times forward earnings, this multiple is nearly double that of Temu's parent company, PDD, and exceeds the 10.7 times multiple observed for Hong Kong's benchmark Hang Seng Index. Shein's growth has experienced a notable slowdown over the past year due to tariffs and increasing competition from Temu in key markets, including the US and Europe. The company's full-year sales are projected to grow by 3.4% to US$44.3 billion next year, with a net income of US$1.7 billion, as per Bloomberg Intelligence.",
  "summary": "They drop to as low as HK$40.04, compared with IPO price of HK$48.56",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Business of Fashion",
        "title": "Shein Shares Plunge Up to 17% on Gray Market Ahead of Hong Kong Debut",
        "url": "https://urgent.news/2026/08/31/shein-shares-plunge-up-to-17-on-gray-market-ahead-of-hong-kong-debut",
        "published": "2026-08-31T14:47:22.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Shein valued at US$26.3bil in Hong Kong market debut",
        "url": "https://urgent.news/2026/08/31/shein-valued-at-us-26-3bil-in-hong-kong-market-debut",
        "published": "2026-08-31T15:05:17.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}