UK delays Shein's IPO over labor and supply chain concerns
Date
12/12/2024 4:03:17 AM
(MENAFN) Britain’s financial governor is taking a lot of time comparing to usual to endorse fast-fashion retailer Shein’s IPO due to the fact that it examines its supply chain supervision and evaluating legal risks following a supportive group for China’s Uighur population contested the listing, in accordance with to two sources close to the issue.
Britain’s Independent Anti-Slavery Commissioner, a monitoring organization of the interior ministry, has also upraised worries within government about a Shein initial public offering asa result of claims about labour practices at its dealers.
Shein, which located in Singapore, sells USD5 (SGD6.70) max and USD10 dresses for the most part made in China in 150 markets globally, filed in confidence with the Financial Conduct Authority (FCA) in initial June for a London listing.
Also, Shein is waiting for confirmation from China’s securities regulator for its London IPO, two different sources declared, in addition to that the confirmation would probably come after the FCA’s decision.
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