Latest news with #CSRC-approved
Fashion Network
a day ago
- Business
- Fashion Network
Shein files Hong Kong IPO as London debut stalls
China-founded fast-fashion retailer Shein has filed for an IPO in Hong Kong to accelerate the listing process and pressure Britain's regulators to approve its planned London debut, the Financial Times reported on Tuesday. The company privately filed a draft prospectus last week with Hong Kong's exchange and sought regulatory approval 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. The company 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 toward a listing in Hong Kong after its proposed London IPO failed to secure approval from Chinese regulators. If the UK's Financial Conduct Authority is willing to accept a CSRC-approved prospectus, London would still be Shein's preferred exchange, the FT report said, adding that chances remained slim, given that the regulators' requirements were still far apart.
Fashion United
2 days ago
- Business
- Fashion United
Shein reportedly files for Hong Kong IPO
Fast fashion giant Shein is believed to have confidentially filed for an initial public offering in Hong Kong as it looks to pressure UK regulators to approve of a London listing. This is according to sources for the Financial Times (FT), who said the China-founded, Singapore-based company had privately filed a draft prospectus with Hong Kong's exchange and was now seeking backing from the China Securities Regulatory Commission (CSRC). Shein turned its attention to Hong Kong after failing to secure regulatory approval for a listing on the London Stock Exchange, for which it was said to have filed an IPO last year. The company faced setbacks in the form of legal challenges and NGO concerns over the lack of transparency in its supply chain and accusations that it sourced cotton from China's Xinjiang region, where human rights abuses are believed to have occurred. While the UK's Financial Conduct Authority (FCA) initially approved Shein's prospectus, the CSRC did not accept the listing due to stricter measures. The FT said that London is still Shein's preferred exchange if the FCA would accept a CSRC-approved prospectus, however, the chances were said to be 'slim, given that the regulators' requirements were still wide apart'. A dual or secondary listing could be considered, FT noted, if the UK watchdog would approve of the IPO in the event of Shein garnering backing from both the CSRC and Hong Kong Exchange (HKEX). The FCA, HKEX and Shein all declined the FT's request to comment.
Fashion Network
2 days ago
- Business
- Fashion Network
Shein files Hong Kong IPO as London debut stalls
China-founded fast-fashion retailer Shein has filed for an IPO in Hong Kong to accelerate the listing process and pressure Britain's regulators to approve its planned London debut, the Financial Times reported on Tuesday. The company privately filed a draft prospectus last week with Hong Kong's exchange and sought regulatory approval 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. The company 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 toward a listing in Hong Kong after its proposed London IPO failed to secure approval from Chinese regulators. If the UK's Financial Conduct Authority is willing to accept a CSRC-approved prospectus, London would still be Shein's preferred exchange, the FT report said, adding that chances remained slim, given that the regulators' requirements were still far apart.
Fashion Network
2 days ago
- Business
- Fashion Network
Shein files Hong Kong IPO as London debut stalls
China-founded fast-fashion retailer Shein has filed for an IPO in Hong Kong to accelerate the listing process and pressure Britain's regulators to approve its planned London debut, the Financial Times reported on Tuesday. The company privately filed a draft prospectus last week with Hong Kong's exchange and sought regulatory approval 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. The company 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 toward a listing in Hong Kong after its proposed London IPO failed to secure approval from Chinese regulators. If the UK's Financial Conduct Authority is willing to accept a CSRC-approved prospectus, London would still be Shein's preferred exchange, the FT report said, adding that chances remained slim, given that the regulators' requirements were still far apart.
Straits Times
2 days ago
- Business
- Straits Times
China's Shein files for Hong Kong IPO to save London listing, FT reports
Sign up now: Get ST's newsletters delivered to your inbox The fast fashion giant privately filed a draft prospectus for an initial public offering last week with Hong Kong's exchange, the report said. Bengaluru - China-founded fast-fashion giant Shein has filed for a listing in Hong Kong to accelerate the listing process and pressure Britain's regulators to approve its planned London debut, the Financial Times reported on July 8. The company privately filed a draft prospectus for an initial public offering (IPO) last week with Hong Kong's exchange and sought a regulatory nod from the China Securities Regulatory Commission (CSRC), 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. The company filed for a Hong Kong listing partly to pressure the UK regulator into easing its risk disclosure rules and to keep alive for 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 CSRC-approved prospectus, London would still be Shein's preferred exchange, the FT report said, adding that chances were still slim, given that the regulators' requirements were still wide apart. . REUTERS Top stories Swipe. Select. Stay informed. World 25% on Japan and Malaysia, 40% on Laos: Trump's tariff letters to Asia add pressure for deals by Aug 1 Singapore Grab to trial driverless shuttle for staff between Media Circle office and one-north MRT station Singapore Ong Beng Seng's new pre-trial conference date set for July 23 Multimedia 'I suspect he's cheating': She finds proof when spouses stray Singapore MRT services resume on 5-station stretch of North-South Line after track fault Asia Thai authorities vow crackdown on cannabis-infused products after toddler hospitalised World Netanyahu says he nominated Trump for Nobel Peace Prize Singapore Fastest charger to be added to Singapore's EV charging network by Q4 in 2025
