Online retail giant Shein Global Holdings has secured approval from the China Securities Regulatory Commission (CSRC) to seek an initial public offering in Hong Kong.
The firm plans to issue up to 341.6 million shares and list on the Hong Kong stock exchange, according to a Friday statement by the CSRC.
Shein previously sought to go public in New York or London, according to earlier media reports, but those attempts have halted amid US and European regulatory scrutiny of the firm’s operations on issues ranging from its supply chain to tax.
More to follow …