Shares in fast-fashion online retail giant Shein lost around 10% after it began trading on Hong Kong's stock market Tuesday, after a long delay in the company's plans to list its shares publicly.

Shein raised about $1. 7 billion, priced at HK$48. 56 ($6. 19) a share, in its initial public offering in Hong Kong in one of the city's biggest new share sales this year.

"Shein's Hong Kong listing marks a new starting point," said Leigh Gui, Shein's chief financial officer, in a short speech at its listing ceremony.