‘Zero conversations’ about London IPO valuation, says Shein boss

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Financial Times 1d ago

‘Zero conversations’ about London IPO valuation, says Shein boss - Financial Times

Quick Summary:

Although Shein initially sought to list in the US, Tang hailed London as a “fantastic capital market”.“It has the best timezone, the best language.

The company, which ships cheap garments made mostly in Chinese factories directly to shoppers around the world, is facing strong competition from rival group Temu and uncertainty over the future of a key exemption to US import duties for packages worth less than $800.

Shein, now headquartered in Singapore, first launched plans to go public in New York in late 2023 but pivoted to the UK after being spurned by the US Securities and Exchange Commission.