Reuters was made conscious of the plans through three sources with data of the matter.
Regulators in Beijing failed to provide the inexperienced gentle for Shein’s London itemizing, which might permit the enterprise to go public within the UK.
The Chinese language-headquartered market plans to file a draft prospectus with Hong Kong’s inventory alternate within the coming weeks, one supply informed the publication. It plans to go public within the Asian monetary hub inside the 12 months, two of the sources revealed.
Shein, which was valued at $66bn (£50.5bn) in its final fundraising spherical in 2023, sought the greenlight from Beijing final 12 months to go public in London, although it had moved its headquarters from Nanjing, China, to Singapore in 2022.
In February, it was reported that Shein’s web revenue had fallen by nearly 40% to $1bn (£790m) in 2024, doubtlessly compromising its capacity to land the London float.
The revenue drop was pushed by a troublesome last quarter and rising competitors from rival Temu, The Monetary Instances reported on the time.
Drapers has contacted Shein for remark.
