Shein Files for IPO in Hong Kong Amid London Listing Struggles
Online fashion giant Shein has confidentially filed for an IPO in Hong Kong to pressure U.K. regulators for its long-delayed listing. The move follows regulatory challenges in London related to risk disclosures, particularly concerning its supply chain in China's Xinjiang region.
Online fast fashion giant Shein has confidentially filed for an initial public offering in Hong Kong to push for its listing ambitions, according to the Financial Times.
The Chinese-founded, Singapore-based retailer submitted a draft prospectus with the Hong Kong exchange (HKEX) and sought approval from the China Securities Regulatory Commission (CSRC), sources told the newspaper.
The HKEX and U.K. regulators declined to comment. Shein had previously aimed for a London listing but faced regulatory hurdles and now focuses on Hong Kong.
Disagreements over risk disclosure language, particularly regarding Shein's supply chain in China's Xinjiang region, have stalled the process. The U.K.'s FCA approved a version of the prospectus, but the CSRC has stricter requirements.
According to the source: CNBC.
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