Known for its ultra-low prices and rapidly produced clothes, the Chinese-founded behemoth’s stock sale in the Asian financial hub comes after IPO plans for New York and London were derailed under regulatory scrutiny. 56 apiece, Shein said in a filing to the Hong Kong Stock Exchange, below the maximum announced offer price of HK$49. But the company now faces slowing growth and increasing regulatory pressure in Europe and the United States, its largest markets. – ‘Geopolitical risks’ – Shein has faced scrutiny over its environmental footprint and allegations of human rights violations, and faces growing competition from Chinese low-cost retailers like Temu and AliExpress. Executive chairman Donald Tang told AFP last year that the company had “zero tolerance” for forced labour.