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The fast fashion firm Shein is ditching the London Stock Exchange (LSE) and will seek a listing on the Hong Kong Stock Exchange.
For the past year Shein has been looking to float on the LSE, but the fashion firm has not managed to get permissions from Chinese regulators.
Shein is based in Singapore and founded in China and they are now preparing to join the Hong Kong Stock Exchange, Reuters reports.
London’s beleaguered markets were expecting a boost from Shein’s listing on the LSE after they secured approval from the Financial Conduct Authority (FCA).
In 2024 the LSE saw their largest exodus as Paddy Power owner Flutter Entertainment, Tui and Just Eat all announced plans to leave the UK.
According to data from EY the LSE has seen 88 companies delist from the UK mainly to the US who offers more trading activity and capital.
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