Fast-fashion retailer Shein Group is reportedly mulling over the idea of relocating its headquarters to China. This move is supposedly aimed at gaining approval from Beijing authorities for its proposed Initial Public Offering (IPO) in Hong Kong.
Shein Group, which currently has its headquarters in Singapore, is said to be in preliminary discussions with legal advisors about the possibility of setting up a parent company in mainland China. This information, however, has not been confirmed, as the discussions are still in the early stages. There is also no certainty as to whether Shein will proceed with this move.
Originally founded in China, Shein Group has spent a considerable amount of time trying to list, first in New York, then in London. The company, however, has met with resistance from politicians in both the US and the UK. These difficulties have been compounded by the inability to secure approval from China’s securities regulator for an offshore IPO, amidst rising tensions between China and the US.
At present, Shein Group is focusing on getting listed on the Hong Kong stock exchange.
Where is Shein Group’s current headquarters?
Shein Group’s headquarters is currently located in Singapore.
Where is Shein Group planning to list its IPO?
Shein Group is planning to list its IPO in Hong Kong.
What challenges has Shein Group faced in its previous attempts at listing?
Shein Group has faced criticism from politicians in the US and UK during its previous attempts at listing in New York and London, respectively. The company has also struggled to get approval from China’s securities regulator for an offshore IPO.
