Shein, a colossal online fashion product platform, has submitted a confidential filing to prepare for the purchase and sale of company stocks in the London Stock Exchange market. The said filing has not yet disclosed official financial information details to the public.
Originally, Shein had plans to take the company to the stock market in the United States since the end of last year. Still, it was closely monitored and investigated by regulatory agencies regarding supply chain, import taxes on products, and several other issues. This led the company to decide to shift to the stock market in the United Kingdom instead.
Founded in China, Shein moved its headquarters to Singapore in 2021. However, the majority of the company’s supply chain remains in China, making it a subject of scrutiny by regulatory agencies in the United States.
Donald Tang, the chairman of Shein, previously mentioned in an interview that the plan to take the company public is not about raising capital but rather about increasing public disclosure of company information.
Source: CNBC
TLDR: Shein, a major online fashion platform, is preparing to enter the London Stock Exchange market with a confidential filing, after originally planning to go public in the US but facing regulatory challenges.
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