Shein trades 22% below IPO price three weeks after Hong Kong listing

China-founded, Singapore-headquartered fast fashion retailer Shein was changing hands at 37.80 Hong Kong dollars on September 21, 2026, about 22 percent below the 48.56 Hong Kong dollars it charged investors three weeks earlier.

Whether the listing counts as a success depends on who is measuring. Shein raised 13.6 billion Hong Kong dollars and reached a public market after failed attempts in New York and London. Anyone who bought at the offer price is down more than a fifth.