The Zhitong Finance App learned that according to media reports quoting people familiar with the matter, China's fast fashion e-commerce platform SHEIN (SHEIN) has received initial public offering (IPO) approval from the Hong Kong Stock Exchange Listing Committee, which means that this much-publicized fast fashion giant is one step closer to landing in Hong Kong stocks.
If the follow-up process goes well, this IPO will become one of the most high-profile consumer company listing cases in the Hong Kong stock market in recent years. It is also an important test of the willingness of global investors to subscribe to the new economy and large consumer stocks. Previously, SHEIN had plans to go public in New York and London, all of which were unsuccessful due to regulatory resistance.
In terms of regulatory approval, the China Securities Regulatory Commission issued an overseas issuance listing filing notice last Friday (July 10), authorizing SHEIN to issue no more than 342 million overseas listed common shares and list them on the Hong Kong Stock Exchange. The implementation of this filing license removed key barriers at the domestic regulatory level for SHEIN to go public in Hong Kong.
According to public information, SHEIN was founded by Xu Yangtian in 2008 in Nanjing and moved its headquarters to Singapore in 2021. The company cooperates with Chinese suppliers, and its business model focuses on overseas markets. The current listing in Hong Kong is also viewed by the market as an important step to further broaden the international investor base and optimize the capital structure.