Shein
will
press
ahead
with
a
London
float,
Reuters
reported,
dodging
regulatory
hurdles
that
stemmed
from
a
possible
New
York
listing.
The
fast
fashion
retailer
plans
to
tell
China’s
securities
watchdog
of
its
intention
to
change
its
initial
public
offering
venue
to
the
London
Stock
Exchange,
Reuters
reported,
citing
a
person
with
knowledge
of
the
matter.
It
can
file
with
the
LSE
as
soon
as
this
month.
Reuters
reported
Shein
confidentially
filed
for
an
IPO
with
the
US
securities
regulator
in
November,
and
approached
China’s
watchdog
to
get
the
green
light
from
Beijing.
But
Shein’s
possible
New
York
listing
faced
opposition
from
US
lawmakers.
Reuters
reported
Shein
prefers
New
York
as
a
listing
venue
to
London,
and
still
plans
to
keep
its
US
float
hopes
alive.
It
could
also
pursue
a
secondary
US
listing
following
a
London
IPO,
once
the
political
backdrop
is
more
favourable.
A
Boost,
But
Governance
Concerns
Surround
Shein
Dan
Coatsworth,
investment
analyst
at
AJ
Bell
says:
“Shein
is
such
a
big
name
in
the
world
of
retail
that
its
mere
presence
on
the
London
market
could
encourage
others
to
look
hard
at
the
UK
as
a
listing
venue.
“It
is
now
a
household
name
in
many
parts
of
the
world
and
that’s
what
many
investors
love
to
see
when
picking
stocks.
They
want
to
find
companies
that
everyone
is
talking
about
–
just
ask
any
teenager
or
young
adult
where
they
buy
clothes
and
Shein
is
likely
to
be
near
the
top
of
the
list
due
to
its
attractive
prices.
“The
key
negative
is
that
Shein
comes
with
more
baggage
than
a
celebrity
takes
on
holiday.
Questions
continue
to
be
asked
about
its
corporate
governance
standards,
working
conditions,
supply
chain
and
accusations
of
intellectual
property
theft.
The
UK
Market’s
Tough
Choice
“Key
reasons
why
Shein
might
choose
to
list
in
London
are
the
more
relaxed
rules
and
requirements
versus
other
venues
like
the
US,
and
there
is
a
risk
that
the
UK
develops
a
reputation
for
admitting
companies
with
more
questionable
qualities.
“Therein
lies
a
key
problem.
London
wants
to
find
ways
to
attract
more
listings
but
it
must
not
tarnish
its
reputation
by
letting
in
bad
eggs.
Approximately
10
years
ago
we
had
a
wave
of
Chinese
companies
flood
the
AIM
market
and
most
ended
in
disaster
or
disappointment.
“Shein
wants
to
be
seen
as
a
global
player
and
not
simply
a
Chinese
firm
flogging
cheap
togs
overseas.
It
will
have
to
do
things
the
right
way
and
become
a
good
corporate
citizen
to
support
this
ambition,
so
it’s
on
a
learning
journey.
London
Stock
Exchange
will
publicly
welcome
the
company
with
open
arms
but
behind
closed
doors
it
will
no
doubt
be
hoping
Shein
has
no
skeletons
in
its
closet.”
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