SloveniaThe initial stock offering of Chinese e-commerce giant Shein did not meet expectations, with shares falling approximately 8% below the set price of 48.56 Hong Kong dollars (5.3 euros) at the start of trading on the Hong Kong exchange. Despite raising $1.7 billion (€1.46 billion) in its highly anticipated initial public offering (IPO), which was completed last Monday, the share price decline indicates a weak start to its listing. The company had previously attempted to list in London and New York but faced opposition from Beijing authorities, leading them to seek approval for the IPO in Hong Kong. The funds raised will be used to enhance technological capabilities and strengthen international presence. However, Shein reported a loss of $99 million (€87 million) in the first three months of this year, compared to a profit of $395 million (€347.2 million) during the same period last year. The company gained popularity during the COVID-19 pandemic due to its low-priced clothing and has grown significantly, with an average monthly user base in Europe reaching 156 million by the end of last year.
Bias read (Center): The article provides factual information about Shein's stock performance, financial figures, and strategic decisions without showing clear ideological bias or favoritism toward any political side. It reports on economic developments and corporate actions without taking a stance on political issues.
