Shein slips as much as 17% in grey market before Hong Kong debut
What's new: The retailer's HK$48.56 IPO valued it at about $26 billion, down sharply from its roughly $100 billion peak.
Bloomberg, The New York Times +3
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#Pdd
Shein slips 17% in grey market ahead of Hong Kong debut
Why it matters: The weak read-through comes after Shein raised $1.7 billion at a $26 billion valuation, far below its former $100 billion peak.