SHEIN Hong Kong listing approved, plans to issue up to 3million4161ten thousand3000shares
Chinese fashion platform SHEIN has received approval from the China Securities Regulatory Commission to register for a listing on the Hong Kong stock market. The company plans to raise up to 3million4161ten thousand3000shares and secure up to 30billion US dollars (about 4trillion5102billion won), saying the funds will be used for AI demand forecasting and expanding logistics hubs.
Chinese fashion platform SHEIN has received approval from the China Securities Regulatory Commission to register for a listing on the Hong Kong stock market. With this approval, SHEIN can proceed with the follow-up steps for an overseas listing.
The company plans to issue up to 3million4161ten thousand3000overseas-listed common shares in Hong Kong. The size of the offering will be finalized during the listing process.
SHEIN said it plans to raise as much as 30billion US dollars. In the same article, the company presented that amount as about 4trillion5102billion won.
The company said the funds raised will be used to build a demand forecasting system using artificial intelligence (AI) and expand logistics hubs. The specific schedule for deployment will be disclosed after the listing process.
Although the company is legally based in Singapore, Shein’s actual business base is in Chinese regions including Guangzhou in Guangdong Province. In Guangzhou, small and medium-sized clothing factories that supply apparel to Shein are densely clustered.
The company said it is pushing ahead with cumulative 100hundred million yuan in investment in Guangdong Province to build logistics hubs and other facilities. The article also presented a figure converting this amount to about 2trillion2170won.
Shein had sought listings in New York and London, but they did not materialize.2023The article says it had aimed for a New York listing in
The article explains that receiving a registration notice issued by the China Securities Regulatory Commission means the company has met domestic regulatory requirements and can proceed with follow-up steps. The company cited its intention to take root in the Chinese market as the reason for choosing Hong Kong as its listing destination.
It was also reported that an IPO could be possible as early as 9month. The timing of the listing may change depending on the subsequent schedules of the company and the regulators.
Sources: 뉴시스 경제
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