FAST fashion major Shein is considering swapping London for Hong Kong as the location for its long-planned IPO, reports London's Financial Times.
The company is turning its focus towards Hong Kong as its preferred listing venue, according to two people familiar with the matter, after protracted efforts to float in London. However, no decision has been taken, the people cautioned.
Shein first launched plans to go public in New York in late 2023, but pivoted to the UK after being spurned by the US Securities and Exchange Commission.
However, a disagreement between Chinese and UK regulators about the language used to convey risk factors in the company's prospectus, including in relation to Shein's exposure to the politically sensitive Xinjiang region, has contributed to a possible shift in focus towards Hong Kong, one of the people said. Most of Shein's supply chain is located in China.
SeaNews Turkey
The company is turning its focus towards Hong Kong as its preferred listing venue, according to two people familiar with the matter, after protracted efforts to float in London. However, no decision has been taken, the people cautioned.
Shein first launched plans to go public in New York in late 2023, but pivoted to the UK after being spurned by the US Securities and Exchange Commission.
However, a disagreement between Chinese and UK regulators about the language used to convey risk factors in the company's prospectus, including in relation to Shein's exposure to the politically sensitive Xinjiang region, has contributed to a possible shift in focus towards Hong Kong, one of the people said. Most of Shein's supply chain is located in China.
SeaNews Turkey
