After Chinese regulators rejected SHEIN’s proposed initial public offering (IPO) in London, the company has set its eyes on a listing in Hong Kong. The fashion behemoth is reportedly planning to apply to the Hong Kong stock exchange in the upcoming weeks in order to go public within the year.
SHEIN reportedly notified the China Securities Regulatory Commission (CSRC) soon after the UK’s Financial Conduct Authority (FCA) gave its approval in April, according to sources.
Since then, the retail behemoth has reportedly experienced an unforeseen delay and little communication from the CSRC.
Setbacks have plagued SHEIN’s ambitions to go public. In order to access a sizable pool of Western investors and establish credibility as a worldwide business, it initially pursued a listing in New York.
The company concentrated its attention on a possible US $ 67 billion float on the London Stock Exchange after facing resistance from US politicians. Concerns about the retailer’s supply networks prompted the FCA to give SHEIN the all-clear in April, about ten months after the company originally submitted paperwork to the agency.
