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00:03Shane's shares fell more than 5% on Wednesday on their second day of trading in Hong Kong
00:08after a weak market debut, according to Reuters. The stock closed at H46 tackers,
00:14below its HK40 or 56 IPO price, while the Hang Seng Index finished flat.
00:20Shane's shares had dropped as much as 10% on Tuesday before recovering.
00:24A rebound attributed to stabilization measures used to limit sharp declines in large listings.
00:31The fast fashion retailer raised $1.7 billion in its IPO, valuing the company at $26.5 billion,
00:39nearly a quarter of its peak valuation of almost $100 billion in 2022.
00:43Investors and analysts cited higher import duties, regulatory risks, stronger competition,
00:49slowing revenue growth and margin pressure as challenges to Shane's growth prospects.
00:54For all things money, visit Benzinga.com.
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