Then, almost immediately, the market offered its verdict: shares fell more than 10% in gray-market trading before the official debut on September 1. For a company that was once valued at nearly $100 billion in private markets back in 2022, pricing at $26. Advertisement A long road to a listing Shein’s path to a public market was less a straight line and more an obstacle course. The company, originally founded in China and now headquartered in Singapore, spent years trying to list in New York, then pivoted to London, before regulatory walls blocked both attempts. China’s securities regulator, the CSRC, finally granted approval for the Hong Kong offering in July 2026, clearing the way for what became one of the year’s more anticipated debuts.