After months of delays, fast fashion behemoth Shein went public on Tuesday at a fraction of its peak valuation.
On Monday, the Singapore-headquartered retailer priced its IPO at 48.56 Hong Kong dollars, or $6.19, per share, offering about 280 million shares. It raised more than HK$13.2 billion in the IPO.
Its valuation at the IPO price was $26.3 billion, down from its $100 billion private valuation in 2022, according to a Wall Street Journal report in April 2022. The Journal cited people familiar with the matter during a funding round that Shein conducted that year.
The stock got off to a bumpy start on its first day on Tuesday. Five...
Read the full article here
