SHEIN Contract on Hyperliquid Experiences Brief 15% Flash Crash, Falling Below IPO Price Range

BlockBeats News, August 31st, according to market data, the Pre-IPO contract trading pair of SHEIN on Hyperliquid experienced a short-term plunge of nearly 15%, reaching a low of $5.46, falling below the IPO price range. It is currently trading at $5.6, equivalent to about 43.9 Hong Kong dollars.

It is reported that the global fashion retail e-commerce platform SHEIN plans to be listed on the Hong Kong Stock Exchange on September 1st, with a valuation of $27 billion. Approximately 280 million shares will be offered at an IPO price range of HK$47.6 to HK$49.5 per share, with a maximum fundraising amount of about HK$13.86 billion (approximately $1.77 billion).