I think the weak debut shows that even after the huge valuation reset, investors still don s army of retail investors who track IPOs very closely. The amount sold in the IPO represents about 6. 6 per cent of Shein s direct-shipping model. The European Union recently followed suit, imposing fees on low-value packages. Shein This IPO is not just a fundraising event — it is also, and probably more of, a capital-structure event, Shares in online fast-fashion retailer Shein have fallen eight per cent in their first day of Hong Kong trade as investors worry about the impact of setbacks that long delayed its listing and have undermined its competitive advantages.