Shein's Hong Kong stock market debut

Shein, the fast-fashion e-commerce giant, is making its long-awaited stock market debut on the Hong Kong Stock Exchange on Tuesday. The company priced its shares below the top end of the marketed range, raising HK$13.6 billion ($1.7 billion; £1.3 billion), giving it a valuation of $26.3 billion. This comes after years of attempts to list in New York and London, which were blocked by regulatory and political opposition. Shein, founded in China and now headquartered in Singapore, operates in over 150 countries with 281 million active customers. The listing is the largest new share sale in Hong Kong this year and is seen as a test of investor appetite for fast fashion. The company faces challenges including increased competition, global trade tensions, regulatory scrutiny over labor practices and environmental impact, and the end of the US de minimis import duty exemption, which contributed to a $99 million quarterly loss in July. Analysts note that investors are skeptical of fast-fashion companies, but Shein's strong supply chain and global reach offer potential.