Singapore-based Shein weighs China relocation to ease path for Hong Kong IPO: Report
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Shein has considered relocating its headquarters back to China in an effort to gain Beijing authorities’ approval for its planned Hong Kong IPO.
PHOTO: REUTERS
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Bengaluru - Fast-fashion retailer Shein Group has considered relocating its headquarters back to China from Singapore in an effort to gain Beijing authorities’ approval for its planned Hong Kong IPO, Bloomberg News reported on Aug 19, citing sources.
Shein has consulted lawyers on setting up a parent company in mainland China, the report said, adding that discussions were only preliminary with no guarantee of Shein finalising the move.
Reuters could not immediately verify the report. Shein did not immediately respond to Reuters’ request for comment.
Founded in China, Shein has spent years attempting to list, first in New York and then in London. The company has faced criticism from US and UK politicians while failing to get approval from China’s securities regulator for an offshore IPO at a time of increasing tensions between China and the United States.
Shein is currently aiming to list in Hong Kong. REUTERS
