Shein has filed to float in Hong Kong in part to try to pressure the UK regulator into compromising on its risk disclosure requirements and keep alive what could be the biggest IPO on the London market in years, according to the people. Fundraising from IPOs in London has sunk to a 30-year low in 2025.

Fashion company files for Hong Kong listing partly to pressure a UK regulator into easing its risk disclosures: report

Shein previously filed to list in London around 18 months prior, but has struggled to receive regulatory approval.