Fast-fashion giant Shein is set to make its highly anticipated stock market debut on Tuesday as it lists in Hong Kong after a years-long quest to go public. ^[1] Shein is now valued at around a quarter of its earlier estimated worth of nearly $100bn, with a stock market valuation of $26.3bn following the listing. ^[2] Shares in online fast-fashion retailer Shein ended flat in their Hong Kong debut on September 1, 2026, failing to gain a typical first-day pop amid worries about setbacks that have undermined its competitive advantage. ^[3] Shein priced its shares below the top end of their marketed range, raising 13.6 billion Hong Kong dollars ($1.7bn; £1.3bn) from the listing. ^[4] The firm faced resistance from US lawmakers, who objected to the planned listing over concerns of forced labour in Shein's factories. ^[5] Demand for Shein's stock during the IPO was tepid compared to high-profile offerings from the AI and robotics sectors, with the retail tranche subscribed 5.63 times and the international portion subscribed 2.59 times. ^[6] Shein finished its Hong Kong listing at HK$48.50, compared to its HK$48.56 IPO price after rebounding from an earlier slide of as much as 10 per cent. ^[7] The U.S. ended the de minimis duty exemption for e-commerce shipments under US$800 last year, and the European Union recently followed suit, imposing fees on low-value packages, which hurt Shein's net income that slid 39 per cent last year and swung to a loss in the first quarter. ^[8]