(News Bulletin 247) – According to Reuters, the group has confidentially filed documents with the British regulatory authority to prepare for this operation.
Shein confidentially filed documents with the British markets regulator in early June for a possible listing in London, two sources told Reuters. At the beginning of June, the Financial Times assured that the fast fashion brand intended to file a case. So it would be done.
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.
An introduction to New York was complicated
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.
(With Reuters)
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