Shock, horror! The media is reporting that fast-fashion giant Shein is likely to ditch London for Hong Kong for its IPO. Time to rend some garments out of despair (ideally, cheap polyester blends).
But, really, nobody should be shocked. If anything, the real surprises are that the UK lobbied so hard for the listing and that Shein had even entertained London in the first place.
For months, the Singapore-headquartered ecommerce juggernaut has been stuck in limbo, awaiting sign-off from the China Securities Regulatory Commission (CSRC) for its overseas listing. Whether a Hong Kong listing will fare better with the regulator remains unclear. But it was always clear that a London debut was an awkward fit.
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