Shein shares plunge 10% in Hong Kong debut following US$1.7 billion listing

Shein Global Holdings plunged as much as 10 per cent in its Hong Kong trading debut on Tuesday after raising HK$13.6 billion (US$1.7 billion), further shaking market confidence in the company’s valuation. The shares opened flat at the offer price of HK$48.56 before falling as much as 10 per cent to HK$43.72. They later pared some losses to trade at HK$45.64 as of 9.45am local time. On Monday evening its shares closed 13.1 per cent lower on the grey market at HK$42.2 after dropping as much as…