Shein, the Singapore-headquartered fashion retailer, completed its initial public offering in Hong Kong. ^[1] The initial public offering valued Shein at a market capitalization of $24 billion. ^[2] Shares of fast-fashion giant Shein fell 7% as they began trading in Hong Kong on Tuesday. ^[3] The Singapore-headquartered company sold about 280 million shares in its initial public offering, raising around 13.60 billion Hong Kong dollars ($1.74 billion) after the final offer price was set at HK$48.56 per share. ^[4] Shein listed its stock on the Hong Kong stock exchange with a valuation of $26.5 billion. ^[5] Effective July 1, the EU imposed a temporary tariff of 3 euros per item on parcels originating from outside the EU to curb the influx of cheap products, mainly from China. ^[6] Fast-fashion retailer Shein is set to open flat in its Hong Kong market debut, according to the article's headline. ^[7] In 2022, Shein reached a peak valuation of nearly $100 billion following a funding round. ^[8] The $24 billion market capitalization is an almost 80% decline from the 2022 peak valuation of nearly $100 billion. ^[9] Shein reported net revenue of $41.8 billion in 2025, compared with $38.7 billion a year earlier. ^[10] The IPO values Shein at around $26.5 billion, compared with its private market valuation of $100 billion in 2022. ^[11] The stock price traded between 44 and 45 Hong Kong dollars per share, which is equivalent to approximately 4.83 to 4.94 euros. ^[12]