(Alliance News) - Shein will press ahead with a London float, Reuters reported on Friday, dodging regulatory hurdles that stemmed from a possible New York listing.
The fast fashion retailer plans to tell China's securities watchdog of its intention to change its initial public offering venue to the London Stock Exchange, Reuters reported, citing a person with knowledge of the matter. It can file with the LSE as soon as this month.
Reuters reported Shein confidentially filed for an IPO with the US securities regulator in November, and approached China's watchdog to get the green light from Beijing. But Shein's possible New York listing faced opposition from US lawmakers.
Reuters reported Shein prefers New York as a listing venue to London, and still plans to keep its US float hopes alive. It could also pursue a secondary US listing following a London IPO, once the political backdrop is more favourable.
https://www.reuters.com/markets/deals/shein-steps-up-london-ipo-preparations-amid-us-hurdles-listing-sources-say-2024-05-10/
By Eric Cunha, Alliance News news editor
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