Shein files for Hong Kong IPO to save London listing, FT reports
The company privately filed a draft prospectus last week with Hong Kong's exchange and sought a regulatory nod from the China Securities Regulatory Commission, the report said, citing people familiar with the matter.
Reuters could not immediately verify the report. Shein did not immediately respond to a Reuters request for comment.
Both the UK Financial Conduct Authority and the Hong Kong Stock Exchange declined to comment on the matter.
Shein filed for a Hong Kong listing partly to pressure the UK regulator into easing its risk disclosure rules and to keep alive what could be London's biggest IPO in years, the FT report added.
Reuters first reported in June that Shein was planning to file a draft prospectus confidentially for its Hong Kong listing, citing three sources with knowledge of the matter.
Reuters also reported in May, citing sources, that Shein was working towards a listing in Hong Kong after its proposed London IPO failed to secure the green light from Chinese regulators.
If UK's Financial Conduct Authority is willing to accept a China Securities Regulatory Commission-approved prospectus, London would still be Shein's preferred exchange, the FT report said.
(Reporting by Surbhi Misra in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita Bhattacharjee)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
18 minutes ago
- Zawya
Masdar, Iberdrola achieve financial close for $6.1bln East Anglia THREE Offshore wind project
Masdar, a global clean energy leader, and Iberdrola, one of the world's largest energy companies, today announced they have reached financial close for the 1.4-gigawatt (GW) East Anglia THREE offshore wind farm, in one of the biggest offshore wind transactions this decade. Project financing facilities totalling £3.6 billion (€4.1 billion) have been secured with 23 banks and the Danish Export Credit Agency (EIFO), in one of the biggest such transactions in the sector and the largest ever by Masdar. The financing will cover a substantial part of the total project costs, estimated at approximately €5.2 billion. The facility was oversubscribed by more than 40 percent, reflecting lenders' confidence in the project's fundamentals and the robustness of the partners. Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said, 'The level and profile of investor interest in this financing deal – the largest we have ever signed at Masdar – reflects our position as a global leader in sustainable finance and investor appetite for high-quality renewable energy assets that deliver impact at scale. Today's announcement represents a significant step forward in our partnership with Iberdrola – and in the UK's clean energy journey, supporting the nation in meeting its energy transformation objectives. We look forward to collaborating further with Iberdrola on other gigawatt-scale greenfield projects that will help shape the future of clean energy in the UK and beyond.' Masdar and Iberdrola announced their co-investment in East Anglia THREE this month, with each party taking a 50 percent stake and having co-governance of the 1.4GW asset, which will be pivotal in advancing Europe's ambitious offshore wind development targets. Located off the Suffolk coast in the UK, East Anglia THREE will become one of the world's two largest offshore wind farms when it comes into operation in Q4 2026, delivering enough clean energy to power 1.3 million British homes. The project benefits from long-term revenue security through a 15-year CPI-linked Contract for Difference (CfD) awarded in the UK Government's AR4 and AR6 auctions, as well as a Power Purchase Agreement (PPA) with Amazon signed in 2024. Over 2,300 jobs are expected to be created during construction, with 100 long-term roles supported across its lifetime. The co-investment in East Anglia THREE marks a significant milestone in the €15 billion strategic partnership Masdar and Iberdrola signed in December 2023 – one of the largest ever bilateral alliances in the global clean energy sector – to accelerate clean energy deployment across key markets including the United Kingdom, Germany, and the United States. The participating banks in the East Anglia THREE financing are: BBVA, HSBC, ING, NatWest, SMBC, MUFG, Bank of China, Crédit Agricole, CaixaBank, Santander, BNP Paribas, Helaba, Barclays, ANZ, Rabobank, FAB, ICO, Abanca, Kutxabank, Standard Chartered Bank, Bank of Ireland, CIC and Siemens Bank. Crédit Agricole CIB and MUFG acted as financial advisors for the transaction, and A&O and Shearman acted as legal advisor to the borrower.
Zawya
36 minutes ago
- Zawya
LSEG launches workspace add-in for Excel and PowerPoint
LSEG Data & Analytics has launched a new Workspace Add-in for Microsoft Excel and PowerPoint, now available to Workspace users with a Microsoft 365 licence. This marks a significant milestone in transforming the end-user experience and advancing the LSEG–Microsoft strategic partnership. The new add-in brings enhanced data discoverability and usability directly into Excel and PowerPoint, allowing users to access LSEG's trusted data more intuitively. Features include simplified formulas, enriched visualisations through Annotations and LSEG Charting tools, and reusable content via the Asset Library. Nej D'Jelal, Head of Workspace and Interim Co-head of Workflows at LSEG, said: 'This is a significant milestone. We're transforming how financial professionals discover and use data directly within Excel and PowerPoint. By enhancing workflows, we're helping users make faster, smarter, and more confident decisions.' Built for financial professionals, the add-in enables the creation of dynamic pitch books. Annotations streamline the discovery of news and events by enabling dynamic chart labelling, while rich metadata and custom tagging power seamless search and content sharing across Microsoft 365. To learn more, click here Media Contact Elizabeth Manets / Tarek Fleihan Communications, LSEG newsroom@
Zawya
an hour ago
- Zawya
Dubai's Sidara weighs lowering Wood Group offer after UK regulator's probe, FT reports
Dubai-based Sidara is considering reducing the price of its takeover bid for Wood Group, as Britain's financial regulator has launched a probe into the oilfield services provider, the Financial Times reported on Thursday. It is not clear by how much Sidara might reduce the price, the report said. The company is concerned about legal exposure that could emerge from the Financial Conduct Authority's investigation into Wood Group, the report said, citing people familiar with the matter. The probe, disclosed in June, had begun following Wood Group's announcement last year of an independent accounting review related to some contracts and charges. Sidara is frustrated about the time it is taking Wood to file its accounts for 2024, according to the FT report. Reuters could not immediately verify the report. Sidara and Wood Group declined to comment. In April, the British oilfield services and engineering company had received a proposal from Sidara comprising a takeover bid worth about 242 million pounds ($328.54 million) and up to $450 million in cash. Sidara has until July 28 to make a firm offer, walk away or get an extension. ($1 = 0.7366 pounds)
