Shein valued at $26.3 billion in Hong Kong market debut

Fast-fashion giant Shein raised $1.7 billion in its long-awaited initial public offering on the Hong Kong market. The stock sale valued the online retailer at approximately $26.3 billion, according to an announcement made by the company on Monday.

The Chinese-founded behemoth is widely known for its ultra-low prices and rapidly produced clothing. This market debut marks a significant milestone for the online retailer following anticipation surrounding its public offering.