Fast-fashion retailer Shein eyes HK listing after London IPO stalls

Shein is working towards a listing in Hong Kong after the online fast-fashion retailer's proposed initial public offering (IPO) in London failed to secure the green light from Chinese regulators, said three sources with knowledge of the matter.

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The Singapore-based company aims to file a draft prospectus with Hong Kong's stock exchange in the coming weeks, one of the sources said.

Shein plans to go public in the Asian financial hub within the year, two of the sources said.

Shein plans to change the listing venue as it had not yet received approval for its London IPO from Chinese regulators, notably the China Securities Regulatory Commission (CSRC), the two sources said.

The company in March secured approval from Britain's Financial Conduct Authority (FCA) for its IPO in London, and soon informed the CSRC, one of the sources said.

The company initially expected the green light from Chinese regulators to follow swiftly, but has since experienced an unexpected delay and limited communication from the CSRC, said the source.