SHEIN falls about 10% intraday on its first day on the Hong Kong Stock Exchange, with Trade.xyz's pre-market crashing 15% yesterday, pricing in a debut breakdown ahead of time

Odaily News: SHEIN officially listed on the Hong Kong Stock Exchange today, with the stock short name SHEIN-W and code 00625. The company priced its IPO at HK$48.56 per share, raising approximately HK$13.6 billion, with a listing valuation of around US$26 billion. During its first day of trading, SHEIN's opening price matched the issue price, but subsequently declined, falling to around HK$43.72 intraday, a drop of about 10%. The SHEIN Pre-IPO market on Trade.xyz within the Hyperliquid ecosystem crashed 15% yesterday, pricing in SHEIN's debut breakdown ahead of time. As of press time, the xyz:SHEIN contract price stands at approximately US$5.69, equivalent to about HK$44.6 under the Hong Kong dollar linked exchange rate system, closely aligning with SHEIN's intraday range of around HK$44 on its first day on the Hong Kong Stock Exchange.