The Chinese cheap fashion store Shein has to go to the Hong Kong Stock Exchange with a confidential brochure. The company is currently working on a concept and, according to Reuters, said three families who are familiar with the process. This must be submitted confidentially.
If the step is approved, this would be a clear concession of the stock market operator, as two of the insiders said. In the case of a confidential exhibition market prospectus, important company information remains in closing time until all regulatory obstacles have been deleted.
The rules of the Hong Kong Stock Exchange only allow confidential stock market spectus in companies that are already being noticed in a different trade center, such as in New York. In addition, the stock market manager was able to mitigate the requirements for candidates aimed at the split of a company that was subscribed abroad abroad. Confidential brochures are widespread in the United States, but they are unusual in Hong Kong.
Shein initially did not answer a request for comments. The stock market manager in Hong Kong has rejected a statement about the company. The Chinese Supervision Supervision CSRC also did not answer a request for a comment. The CSRC must agree with an IPO. It is unclear whether this approval is already available.
Third attempt
Wein’s stock market plans have been speculated in the media since May. It is the third attempt for online retailers who sell cheap fashion worldwide via the internet. The stock market plans for London and New York failed the veto of Chinese supervision.
Shein was founded in China in 2012, but moved his headquarters to Singapore in 2022. Because the company works with thousands of suppliers in China, it is still subject to the Chinese Beurscheneesbeurs, according to insiders. The company was attracted by the American Chinese Trade War after US President Donald Trump had removed the exemption for the import of the People’s Republic.
Shein supplies his products directly from the manufacturers to customers. The company was assessed on a financial round in 2023 with $ 66 billion, which was a third less than with a financing round in the previous year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
