The long-awaited IPO put the company's valuation at around US$26.3 billion with its listing price of HK$48.56 well short of the nearly US$100 billion during private fundraising rounds in 2022.
Shein, known for its ultra-low prices and rapidly produced clothes, said proceeds from the sale would be used to finance its technological capabilities and boost its international presence.
Category: World
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Fast-Fashion Giant Shein Plunges 10% On Hong Kong Debut
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Nepal Says Death Toll Rises To 987, Bringing Total Killed Past 1,000
Devastating floods on the China-Nepal border have killed at least 987 people in Nepal, the disaster authority said Tuesday, taking overall deaths to more than 1,000. Chinese state media earlier confirmed 16 people were killed in Tibet, bringing the total toll from Wednesday’s disaster to 1,003. The number of missing in Nepal dropped to 3,916,...
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Syrian Embassy Reopens After 14 Years Of Diplomatic Break
The Syrian embassy in Tripoli was closed in 2011, after Libya's then-transitional authorities recognized the Syrian opposition and moved to end official ties with the government of Bashar al-Assad.
The latest move comes as Syria's new government seeks to rebuild its diplomatic relations in the region following the fall of Assad's government in December 2024.
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China Penalises 10 People For Misinformation Over Deadly Mudslide
Chinese authorities penalised 10 people accused of spreading misinformation online about a deadly mudslide along the Nepal border, police said Monday, as rescuers scour for hundreds missing at a border crossing on the Tibetan side. The penalties, which could range from fines to 10 days in detention, come as rescuers on both sides of the...
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China’s Xi And Iran’s Pezeshkian In Kyrgyzstan, Putin Expected
China’s Xi Jinping and Iranian President Massoud Pezeshkian were in Kyrgyzstan for a summit of the Shanghai Cooperation Organisation, with Russia’s Vladimir Putin expected later on Monday for the two-day event that will involve over a dozen other leaders. The regional SCO bloc, which seeks to be a counterinfluence to the West, is celebrating its...
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South Korea Court Gives Unification Church Leader 2 Years Prison
The Unification Church has a range of significant business interests, including media, education and food distribution, and has long drawn scrutiny over its political ties in South Korea.
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Indonesia Wildfires Send Thick Haze Across Borneo, Raising Health Concerns
Millions of Indonesians risk health complications from exposure to thick haze covering several cities and towns, officials said Wednesday, as El Nino-fuelled wildfires wreak havoc on Borneo and Sumatra islands. Indonesia, a vast archipelago, has for weeks battled wildfires that have led to school closures and thousands of people requiring medical treatment, with smoke also...
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Turkish, Saudi, Pakistani Ministers To Hold First Defence Pact Meeting
Turkey will host Saudi Arabia and Pakistan for the first ministerial meeting of their new regional defence grouping on Monday, Turkish sources said. The Mecca Joint Defence Agreement signed earlier this month commits the three countries to mutual defence in the event of any of them being attacked. The pact came against a backdrop of...
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Japan’s “Polka Dot Queen” Yayoi Kusama Dies Aged 97
Born in 1929, the youngest daughter of a wealthy family began producing her signature dot and net patterns aged 10.
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Colombia Estimates Quake Damage At $9.6 Billion
The powerful earthquake that killed hundreds of people in western Colombia caused $9.57 billion in economic losses, President Abelardo de la Espriella said on Tuesday, issuing a preliminary estimate. The 7.4-magnitude tremor, which struck on August 10, was the most powerful in Colombia in nearly half a century. The death toll stands at 289, with...