Shein is shifting towards a London listing in the coming months as tensions between Washington and Beijing stall the online fashion giant’s plans for a blockbuster flotation in New York.
In an interview with the Financial Times, executive chair Donald Tang said the Singapore-domiciled company had made “progress” on changing the perception of China controlling Shein “but not enough” to win over US lawmakers.
Concerns about Shein’s ties to Beijing have become the biggest hurdle in the path to a US initial public offering, for which it filed preparatory paperwork with the Securities and Exchange Commission six months ago.
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