Online fashion giant Shein is reportedly planning to apply for a listing on the London Stock Exchange as early as this week.
The proposed listing of the China-founded, Singapore-headquartered company would be one of the London Stock Exchange’s biggest deals in a decade and comes amid a dearth of new companies on the UK public market.
Sky News reported that Shein is preparing to submit an initial public offering (IPO) prospectus, the document needed to gain regulatory approval from the Financial Conduct Authority (FCA).
Sources told the station that it could happen as early as this week, but also later this month.
Shane has been contacted for comment.
A stock listing could value the fast fashion company at around $66 billion (£51.6 billion).
The company had been in talks with both the United States and Britain over plans to go public, but faced significant regulatory hurdles to securing a listing in New York.
Last year, US lawmakers called for an investigation into the company over allegations that it used forced Uighur labour to make some of its clothing.
Still, the London Stock Exchange and British ministers have pushed for the company’s London listing, and Finance Minister Jeremy Hunt met with Shain’s executive chairman, Donald Tan, earlier this year.
Shane, which also owns the Missguided brand in the UK, recorded sales of £1.1 billion from its UK business in 2022, according to its latest financial results.
