June 28 (Reuters) - Online fast-fashion group Shein is
keeping alive a fallback option to list in Hong Kong despite
filing for a London listing, the Financial Times reported on
Friday, citing people familiar with the situation.
The company confidentially filed papers with Britain's
markets regulator in June, two sources told Reuters on Monday,
kicking off the process for a potential London listing later
this year.
The news has triggered strong opposition from human rights
groups in the UK over concerns about Shein's labour practices.
Amnesty International UK said the potential London initial
public offering would be a "badge of shame" for the LSE.
Shein's plans remain in flux and there is no certainty
that it will end up listing in London even if that is the
company's current focus, the FT report said.
The company did not immediately respond to a Reuters
request for comment.
Shein, which was valued at $66 billion in a fundraising
round last year, began to explore a listing on the London Stock
Exchange early this year, Reuters reported in May, citing
sources. Its original plan to list in New York came unstuck
following opposition from U.S. lawmakers.
Some senior British lawmakers have also questioned
Shein's suitability and called for greater scrutiny of its
labour practices, supply chain and use of an import tax
exemption.
(Reporting by Urvi Dugar in Bengaluru; Editing by Shailesh
Kuber and Devika Syamnath)