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Goldman Spent $220mn Propping up Shein’s IPO. Shares Fell 38% Anyway
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Goldman spent $220mn propping up Shein’s IPO. Shares fell 38% anyway
Goldman Sachs used its entire price-support allowance, about $220 million of Shein stock, to steady the fast-fashion giant after its Hong Kong listing. The buying ended, first results showed profit more than halving, and the shares now trade 38% below the offer price.
Goldman Sachs has acquired an estimated $220 million worth of shares in fast fashion giant Shein after the latter's unsuccessful debut on the Hong Kong stock exchange.
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