Shein shares slide 10% in long-awaited Hong Kong trading debut

HONG KONG, Sept 1 : Online fashion retailer Shein's shares tumbled about 10 per cent in early Hong Kong trading on Tuesday as the company made its long awaited debut, capping a years-long effort to go public.The stock began trading at HK$48.56 each, in line with the final price set in the initial public offering that raised $1.7 billion and valued Shein at $26.5 billion. The shares then fell to HK$43.8 each.On its debut, Shein is valued well below its 2022 peak of nearly $100 billion.Demand for Shein's stock during the IPO was tepid compared to other high profile deals in the past year. The retail tranche was subscribed 5.63 times, while the international portion was subscribed 2.59 ​times, Shein said in a stock exchange filing on Monday. Some deals have been hundreds of times oversubscrib