Singapore-based Shein said to be weighing shift back to China to ease path for Hong Kong IPO
Add BT as a preferred source
[BENGALURU] Shein has considered relocating its headquarters back to China, in an effort to gain Beijing authorities’ approval for its planned Hong Kong initial public offering (IPO), Bloomberg News reported on Tuesday (Aug 19), citing sources.
The Singapore-headquartered fast-fashion retailer 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 US.
Shein is currently aiming to list in Hong Kong.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
OCBC rolls out AI-native banking, to hire 600 relationship managers in wealth push
Three Holland Village shophouses sold for S$70 million to Tat Lee Bank’s Goh family unit
The billion-dollar question Singapore Airlines shareholders should ask during its AGM
