Decentralized exchange PancakeSwap listed $SHEINx, a tokenized synthetic version of SHEIN’s Hong Kong-listed stock. SHEIN completed its IPO on September 1, 2026 on the Stock Exchange of Hong Kong, raising approximately HK$13.6 billion ($1.7 billion) through the sale of 280 million Class B shares at HK$48.56 each, valuing the company at $26.5 billion. On the first trading day, the stock dropped as much as 10% intraday before closing roughly flat, and the company reported decelerating revenue growth of 8% in 2025 compared to 20.7% the prior year. The $SHEINx token does not confer ownership, dividend, or voting rights but allows DeFi traders to gain exposure to the stock price without using a traditional broker.
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