Xiyin applies for IPO in Hong Kong, puts pressure on the UK regulator to accelerate listing

If the FCA accepts the prospectus approved by the China Securities Regulatory Commission, London will still be Xiyin's preferred listing location. Despite this, the Financial Times believes that the gap between the regulatory requirements of the two places is still large, and the hope of Xiyin's successful listing in London is still slim.

As of now, Xiyin has not responded to Reuters' inquiries.

According to analysis, Xiyin did this partly to encourage the UK Financial Conduct Authority (FCA) to relax risk disclosure requirements and thus increase the possibility of listing plans in London.

Shein, an online fast fashion retailer with an international headquarters in Singapore, submitted an initial public offering (IPO) application to the Hong Kong Stock Exchange to speed up the listing process and put pressure on British regulators to fight for plans to list in London. The Financial Times quoted people familiar with the matter on Tuesday (July 8) that Xiyin had privately submitted the draft prospectus to the Hong Kong Stock Exchange last week and sought approval from the China Securities Regulatory Commission.