Key Takeaways:
- SHEIN-W opened flat at $48.56 and closed midday at $46.62, down 4 percent.
- The stock ranged between $48.56 and $43.72 in its debut session.
- Turnover reached $1.514 billion on 32.9 million shares traded.
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SHEIN-W slides 4% below listing price on Hong Kong debut
SHEIN-W (00625.HK) closed midday at $46.62 on its Hong Kong debut, down 4 percent from its $48.56 listing price.
The fast-fashion retailer opened flat at $48.56 before sliding, according to AASTOCKS Financial News data. The stock traded between $48.56 and $43.72 in the session, bottoming more than 9 percent below the offer price before paring losses.
Volume reached 32.9 million shares, with turnover of $1.514 billion. The stock was last down $1.94, or 3.995 percent, at $46.62. Hong Kong quotes are delayed by at least 15 minutes.
The debut below the listing price signals soft first-day demand for one of the year's most closely watched Hong Kong listings. The company did not disclose its offer price range, oversubscription ratio, or cornerstone investor commitments in the trading update.
The weak open puts SHEIN-W underwater against its listing price, a sign early buyers are not chasing the stock. Investors will watch the closing auction and the first full session for signs of stabilization before the fast-fashion retailer's shares find their footing on the Hong Kong exchange.
This article is for informational purposes only and does not constitute investment advice.
