Archive · 1 Sep 2026
Shein Shares Sink 10% in Disappointing Hong Kong IPO Debut
Shein is a large online clothing company known for selling inexpensive fashion quickly.
Its shares began trading in Hong Kong, but the first day did not go well.
The share price dropped about 10% from the price set for the IPO.
This gave the company a value of a little more than $26 billion.
That is much less than the nearly $100 billion value Shein had in 2022.
Shein raised about $1.74 billion by selling shares.
The company plans to spend much of that money on technology, advertising, and expanding around the world.
Investors are also watching its recent loss and the challenges it faced while trying to list in the United States and the United Kingdom.
Shein shares fell as much as 10% to HK$43.72 from their HK$48.56 IPO price.
The Hong Kong listing valued Shein at slightly more than $26 billion, far below its nearly $100 billion valuation in 2022.
The Singapore-headquartered company sold about 280 million shares and raised approximately HK$13.60 billion, or $1.74 billion.
Retail investors subscribed for 5.6 times the available shares, while institutional demand reached 2.6 times the allocation.
Shein reported $41.8 billion in 2025 revenue, but recorded a $99 million first-quarter net loss this year.
- Who
- Shein Global Holdings Ltd., the Singapore-headquartered fast-fashion company, and investors in its IPO.
- What
- Shein shares fell as much as 10% during their Hong Kong trading debut after the company raised approximately $1.74 billion through an IPO.
- When
- During Shein's Hong Kong trading debut; the company also reported 2025 revenue and a first-quarter loss this year.
- Where
- Hong Kong; Shein is headquartered in Singapore and was founded in China.
- Why
- The debut was subdued amid a sharply reduced valuation compared with 2022 levels, concerns about profitability, and earlier regulatory and political obstacles to listings in the United States and United Kingdom.
- IPO price
- HK$48.56 per share
- Debut low
- HK$43.72, representing a drop of as much as 10%
- IPO proceeds
- Approximately HK$13.60 billion, or $1.74 billion
- Shares sold
- About 280 million shares
- IPO valuation
- Slightly more than $26 billion
- 2025 net revenue
- $41.8 billion, compared with $38.7 billion the previous year
- First-quarter result
- $9.05 billion in revenue and a $99 million net loss