Shein, an online fast fashion retailer, has confidentially submitted a draft prospectus for an initial public offering (IPO) in Hong Kong, according to the Financial Times.
The company, originally founded in China and now based in Singapore, filed the documents with the Hong Kong Stock Exchange (HKEX) last week, the report said, citing two individuals familiar with the situation.
Shein is also reportedly seeking approval from China’s Securities Regulatory Commission (CSRC), the article added.
This move follows the company’s earlier attempt to go public in London around 18 months ago.
Due to difficulties in securing regulatory approval in the UK, Shein is said to have shifted its listing plans to Hong Kong in May.
The confidential filing seems to reflect Shein’s effort to move forward with its IPO plans after facing obstacles in other markets.
