Shein considers London IPO amid US resistance to listing
Shein is considering the possibility of switching its initial public offering to London from New York because of hurdles to the listing in the US, according to people with knowledge of the matter.
Shein, which was founded in China but is now headquartered in Singapore, is in the early stages of exploring the London option as it has judged it unlikely that the US Securities and Exchange Commission will approve its IPO, the people said, asking not to be identified discussing confidential information.
Shein is still working on its application to list in the US as its preferred location, the people said. It would need to file a new overseas listing application with Chinese regulators if it decided to switch to London or elsewhere, they added. Other venues including Hong Kong or Singapore may also be considered, two of the people said.
A representative for Shein declined to comment.
A listing in London would be a potential boon to the beleaguered market, after one of the worst years for IPOs in its modern history. Just about $1 billion was raised in the UK via IPOs last year, the lowest level in decades, according to data compiled by Bloomberg.
The UK is also struggling to stem an exodus of firms to the US and elsewhere. Chip designer Arm Holdings Plc spurned London for a New York IPO last year even after the UK government lobbied for a domestic listing by the Cambridge, England-based company. Already-listed companies are migrating abroad, with TUI AG shareholders voting earlier this month to delist from the London
