S&P 500 rises to new record at the open Friday, overcoming tariff and geopolitical fears

Shein Group Ltd. is planning to confidentially file a draft prospectus for an initial public offering in Hong Kong in the coming days, Reuters reported, which would mark the third venue the company has sought to debut in.

The move to apply confidentiality is rare in Hong Kong, where companies generally make such filings public, Reuters reported. The fast-fashion retailer had a globe-trotting path to the public markets, with its prior attempts to list in the US and London facing scrutiny over its supply-chain practices and tariff impacts.

The clothing retailer, which was founded in mainland China and is headquartered in Singapore, didn’t reply to a request for comment from Reuters.

The company, which had been valued as high as $100 billion in 2022, was considering switching its plans to Hong Kong because the approval process with Chinese regulators for a London float was dragging on, Bloomberg News reported last month. While controversial, the listing would have been one of the largest IPOs in the UK in years.