The plan to go public in the United States after the listing of China Fast Fashion Big Fashion Big Fashion Giants has encountered domestic regulatory obstacles and the obstacles of the United States, it is reported that it is stepping up to prepare to go public in London, UK.
Reuters on Saturday (May 11) quoted people familiar with the matter. Herchi has been in contact with the financial, legal advisory team and fund headquarters in London since the beginning of this year in orderMatters of going to the London Stock Exchange.
Sky News (Sky News) last December quoted sources reports that Donald Tang, Chairman of Higin, visited the London Stock Exchange and other interests during the month of the month.Meet.
People familiar with the matter said that Higo plans to notify the change of the listing location of the China Securities Regulatory Agency within this month and formally submit it to the London Stock Exchange for a listing application.
If it is listed, this may be one of the world's largest first public offering (IPO) this year.As of last year, Xiyin's financing valuation was US $ 66 billion (S $ 89.4 billion).
However, Higin has not completely terminated a listing application submitted by the Securities and Exchange Commission (SEC).When the U.S. political climate is more conducive to the company's listing, Xiyin may plan to seek twice in New York after the IPO of London.
Hitchin submitted a listing application to SEC in November last year, and also sought approval from the China Securities Regulatory Commission.However, Xiyin's listing plan to go to the United States is at the same time facing China's domestic regulatory obstacles and the obstruction of US Congress.
As the United States ushered in the election year this year, the internal voice of the White House had a rose of the Hua Eagle School, and American politicians opposed the company's listing plan on the grounds of forced labor.Two people familiar with the matter said that the SEC has not yet promoted the IPO application of Higin, and Hicin Yin faces strict review than expected.
At the same time, because Higou relies heavily on the supply chain of third -party contract manufacturers in China, Herchi also faces strict review in China.People familiar with the matter said that the China Securities Regulatory Commission told Highery earlier this year that due to the company's supply chain problem, it is not recommended to be listed in the United States.
Another person familiar with the matter said that as part of the IPO approval procedure, the National Internet Information Office of China has also been reviewed and shared on the data processing and sharing practices of Higin.
