Shein Files Confidentially for Hong Kong IPO After UK Setback

Shein, the global fast fashion giant originally founded in China and now headquartered in Singapore, has confidentially submitted a draft prospectus for an initial public offering (IPO) in Hong Kong, according to the Financial Times. Citing sources familiar with the matter, the report reveals that the company filed the paperwork with the Hong Kong Stock Exchange (HKEX) last week.

Shein is also seeking regulatory clearance from China’s Securities Regulatory Commission (CSRC), a necessary step for overseas listings involving Chinese-rooted companies. The confidential filing underscores Shein’s renewed push to go public after facing regulatory challenges elsewhere.

This move follows Shein’s previously abandoned effort to list in London roughly 18 months ago. The company reportedly faced difficulties securing approval from UK regulators, prompting it to shift focus to the Hong Kong market earlier this year.

Hong Kong’s IPO market has been showing signs of recovery after a slow period, making it an attractive destination for high-profile listings. Shein, known for its ultra-low-cost apparel and massive Gen Z customer base, is likely aiming to leverage Hong Kong’s financial ecosystem and closer proximity to its core supply chain operations in Asia.

While Shein’s rapid global expansion and dominance in online retail have drawn investor attention, the company continues to navigate regulatory scrutiny over labor practices, sustainability, and data transparency. A successful listing in Hong Kong could mark a major milestone for the fast fashion brand as it seeks to raise capital and expand its international footprint.

The exact valuation and timeline of the IPO remain undisclosed due to the confidential nature of the filing, but analysts expect further updates as approvals progress in both Hong Kong and mainland China.