Fast-fashion firm Shein may abandon London IPO - report
==========
Chinese fast-fashion platform Shein may abandon its initial public offering (IPO) in London due to recent criticisms and pressure from the Chinese government. The retailer has faced criticism in the UK and the US over its dependence on third-party suppliers and allegations of forced labor. Some major shareholders are reportedly asking Shein to consider buying back their shares. Shein had been preparing to file a prospectus for a £50 billion London listing this month. The company had previously considered switching its IPO from New York to London due to regulatory issues. Shein confidentially filed for an IPO in the US in November. The fast-fashion firm is facing increased competition from Pinduoduo's Temu.
#Shein #Ipo #London #ChineseGovernment #ForcedLabor #Pinduoduo
https://seekingalpha.com/news/4118181-fast-fashion-firm-shein-may-abandon-london-ipo-report
Seeking Alpha /
npub1qpf…damf
2024-06-23 15:33:43
Author Public Key
npub1qpfrthtcf6g8grmwfv45qf28aa4xqk73pgnmwjdfuze8zl2l2cnsewdamfPublished at
2024-06-23 15:33:43Event JSON
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"content": "Fast-fashion firm Shein may abandon London IPO - report\n==========\n\nChinese fast-fashion platform Shein may abandon its initial public offering (IPO) in London due to recent criticisms and pressure from the Chinese government. The retailer has faced criticism in the UK and the US over its dependence on third-party suppliers and allegations of forced labor. Some major shareholders are reportedly asking Shein to consider buying back their shares. Shein had been preparing to file a prospectus for a £50 billion London listing this month. The company had previously considered switching its IPO from New York to London due to regulatory issues. Shein confidentially filed for an IPO in the US in November. The fast-fashion firm is facing increased competition from Pinduoduo's Temu.\n\n#Shein #Ipo #London #ChineseGovernment #ForcedLabor #Pinduoduo\n\nhttps://seekingalpha.com/news/4118181-fast-fashion-firm-shein-may-abandon-london-ipo-report",
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