Shein IPO Turns Toward Hong Kong Amid Reports London Float Has Stalled
The post Shein IPO Turns Toward Hong Kong Amid Reports London Float Has Stalled appeared on BitcoinEthereumNews.com. Shein has been seeking an IPO but hit roadblocks in the U.S. and U.K. getty The Shein IPO is back on but after all the oh-so-nears and will they, won’t they speculation, Shein looks to be heading for home as reports this morning suggest it is working towards a listing in Hong Kong. The online fast-fashion retailer’s proposed initial public offering (IPO) in London failed to secure the green light from Chinese regulators, according to sources with “knowledge of the matter”, Reuters has reported. The news service said that the China-founded company aims to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks and that Shein plans to go public on the Asian financial hub within the year. If true – and neither Shein or Hong Kong’s financial exchange have responded to the reports – then it brings a deeply underwhelming conclusion to a flotation that was supposed to be valued at $65 billion or more when it was slated first for New York and then for London. But Shein has consistently hit roadblocks, firstly as U.S. politicians and lawmakers flagged concerns over a huge New York flotation for a controversial fast fashion retailer that has taken much of the U.S. and Europe by storm as it attracted Gen Z and Gen A in their droves. Shein’s ultra-low prices and seemingly endless fashion choices have been a huge hit with young consumers and, having exploded onto the market, the retailer seemed to be able to do no wrong with its passionate fan base. Frustrated by objections to its New York IPO dragging on, Shein turned to London and started moving ahead with a proposed flotation that would have been a huge boost to the beleaguered U.K. exchange which has missed out on several major flotations to…
The post Shein IPO Turns Toward Hong Kong Amid Reports London Float Has Stalled appeared on BitcoinEthereumNews.com.
Shein has been seeking an IPO but hit roadblocks in the U.S. and U.K. getty The Shein IPO is back on but after all the oh-so-nears and will they, won’t they speculation, Shein looks to be heading for home as reports this morning suggest it is working towards a listing in Hong Kong. The online fast-fashion retailer’s proposed initial public offering (IPO) in London failed to secure the green light from Chinese regulators, according to sources with “knowledge of the matter”, Reuters has reported. The news service said that the China-founded company aims to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks and that Shein plans to go public on the Asian financial hub within the year. If true – and neither Shein or Hong Kong’s financial exchange have responded to the reports – then it brings a deeply underwhelming conclusion to a flotation that was supposed to be valued at $65 billion or more when it was slated first for New York and then for London. But Shein has consistently hit roadblocks, firstly as U.S. politicians and lawmakers flagged concerns over a huge New York flotation for a controversial fast fashion retailer that has taken much of the U.S. and Europe by storm as it attracted Gen Z and Gen A in their droves. Shein’s ultra-low prices and seemingly endless fashion choices have been a huge hit with young consumers and, having exploded onto the market, the retailer seemed to be able to do no wrong with its passionate fan base. Frustrated by objections to its New York IPO dragging on, Shein turned to London and started moving ahead with a proposed flotation that would have been a huge boost to the beleaguered U.K. exchange which has missed out on several major flotations to…
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