Shein was said to be working towards a listing in Hong Kong after the online fast-fashion retailer's proposed London IPO fell short of getting the green light from the China Securities Regulatory Commission, according to Reuters.
Source: Sharecast
Reuters, which quoted anonymous sources familiar with the matter, said the Chinese firm intends to file a draft prospectus with Hong Kong's stock exchange in the coming weeks and hopes to go public within the year.
Shein plans to change the listing venue as it has not yet received approval for its London IPO despite initially expecting to get the go-ahead from Chinese regulators after it secured approval from the UK's Financial Conduct Authority, but has since received only limited communication from the CSRC.
Reporting by Iain Gilbert at Sharecast.com
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