Shein shares started trading on the Hong Kong Exchange on September 1 at an opening price of HK$48.56, with the IPO raising approximately US$1.74 billion at a US$26.5 billion valuation. The listing marked a sharp reduction from the company's 2022 private peak near US$100 billion. Subscription multiples differed between retail and international tranches, while early trading price movements remain subject to conflicting reports.