Shein, the fast-fashion retailer originally founded in China and now headquartered in Singapore, is shifting its planned stock market listing from London to Hong Kong. This decision comes as the company faces regulatory hurdles with Chinese authorities, particularly the China Securities Regulatory Commission. Although Shein was previously valued at $66 billion and expected to list in London at around $50 billion, delays and changing US import regulations have reduced its expected valuation significantly. The company aims to file a draft prospectus in Hong Kong soon.
Shein is reportedly aiming to list on the Hong Kong stock exchange as the online fast-fashion retailer struggles to gain the go-ahead from Chinese regulators for a flotation in London.
The company had initially been expected to list with a value of as much as 50bn in the UK but estimates have fallen to as little as half of that amount amid changes to US import rules and planned government action in the EU and UK.
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