by Kane Wu and Julie Zhu
HONG KONG (Reuters) – Shein confidentially filed documents with Britain’s markets regulator in early June for a possible listing in London, two sources told Reuters.
A spokesperson for the Chinese online ready-to-wear giant declined to comment. The Financial Conduct Authority (FCA), Britain’s markets watchdog, did not immediately respond to Reuters’ request for comment.
Shein has officially informed China’s financial markets regulator of the change in its listing location, the sources said. However, the company has not yet received approval from the China Securities Regulatory Commission (CSRC), one of them said.
The CSRC did not immediately respond to a Reuters request for comment.
Shein’s interest in London marks a shift from its initial plans for a U.S. IPO, which faced regulatory and political hurdles.
Earlier this year, the CSRC informed Shein that it would not recommend an IPO in the United States due to problems with the company’s supply chains.
(Reporting Kane Wu and Julie Zhu, with James Davey and Huw Jones in London, Corentin Chappron, edited by Blandine Hénault)
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