Shein shares plunge up to 28% in grey market ahead of Hong Kong debut

Shein Global Holdings shares plunged in the grey market day ahead of its Hong Kong debut, further shaking market confidence in the company’s valuation. On Monday evening its shares closed 13.1 per cent lower at HK$42.2 after dropping as much as 28 per cent, according to Futu Holdings data. With a board lot size of 100 shares, each lot yielded a loss of HK$636, excluding transaction fees. Shein raised HK$13.6 billion (US$1.7 billion) after pricing shares for its Hong Kong listing at just above...