Singapore-based Shein said to be weighing shift back to China to ease path for Hong Kong IPO

[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.