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Shein is reportedly looking to sell its shares directly to the British public after its potential £50bn listing on the London Stock Exchange was met with backlash, The Telegraph has reported.
It is understood that the fast fashion group is in the early days of examining a possible sale to retail investors alongside its bankers at JP Morgan, Goldman Sachs and Morgan Stanley.
Companies that list on the stock market will normally sell their stock to banks, pension funds and asset managers. As a result, individual investors are only able to buy shares on the open market once trading begins.
However, the outlet reports that no decision has been reached, as the plans are still in the early stages.
If the plan gets approved, this would see Shein’s shares get sold directly to its customers and a broader range of retail investors through specialised platforms.
The news comes after the fast fashion group quietly filed the initial paperwork for its £50bn listing with the Financial Conduct Authority in June.
In the months after, many industry bosses have been vocal about their concerns over Shein’s use of a legal tax loophole for overseas shipments, which have given the group an unfair advantage.
Shein has declined to comment.
