Shein to file for £50bn London float
The move would mark London's most high-profile public float for more than a decade
Shein is reportedly eyeing a London flotation that would value the fast-fashion company at £50bn.
According to Sky News, the company is set to file a prospectus with the Financial Conduct Authority for approval ahead of the potential float.
Sources told Sky that the filing could potentially take place this coming week, but could also take place later this month.
The move would mark London’s most high-profile public float for more than a decade.
Last month, it was reported that Shein was ramping up its move towards a London IPO after its attempt to float in New York faced regulatory hurdles. One source said that Shein planned to update China’s securities regulator on changing the IPO venue and file with the London Stock Exchange.
According to previous reports, the fast-fashion company started exploring the London option earlier this year in case US regulators blocked the option of a US flotation due to its ties to China.
The China-founded company had reportedly approached London-based fund managers for introductory meetings ahead of the planned float.
Shein has been contacted for further comment.
