Shein reportedly plans confidential Hong Kong IPO filing this week
The China-founded company aims to submit the confidential filing by Monday, the report added. This approach marks a rare departure from the standard practice in Hong Kong, where companies typically make public filings of IPO documents.
If approved, Shein's confidential filing would represent a waiver of one of the main listing rules by the Hong Kong exchange. The company is one of the world's most closely-watched IPO candidates and could potentially be the largest listing in Hong Kong this year.
Confidential filings provide companies with the advantage of keeping important operational and financial information private for a longer period. This process also allows them to undergo regulatory review without public disclosure.
Under Hong Kong's listing rules, confidential filings are normally permitted only for secondary listings by companies that are already listed on recognized overseas exchanges such as the New York Stock Exchange or Nasdaq.
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