Asian online clothing retailer Shein has filed a confidential application for an initial public offering (IPO) in Hong Kong, aiming to expedite its listing in London, according to the Financial Times, which cites informed sources.
According to their data, the prospectus was sent to the Hong Kong Stock Exchange (HKEx) last week. The company also plans to obtain approval from the China Securities Regulatory Commission (CSRC).
A confidential application enables companies to undergo the regulatory review process without public disclosure and to maintain the confidentiality of important operational and financial information for a longer period. The documents will remain undisclosed until the company passes the HKEx hearing.