Shein takes IPO to London
Shein, the world’s largest fast fashion brand, has filed to go public in London after a failed attempt to list in the US, sources told Reuters.
The China-founded, Singapore-based retailer known for its cheap clothes reportedly tried to file for an IPO in New York earlier this year but faced pushback from regulators and lawmakers over its links to the Chinese government and accusations of forced labor.
Shein, which was valued at $66 billion in a fundraising round last May, still has to secure approval from British authorities before it can start selling shares.
The listing could be a revival for The London Stock Exchange, which hasn’t seen a major IPO in years. It has instead watched as British companies (like the chipmaker Arm Holdings) go public on larger exchanges in New York.
Shein, which was valued at $66 billion in a fundraising round last May, still has to secure approval from British authorities before it can start selling shares.
The listing could be a revival for The London Stock Exchange, which hasn’t seen a major IPO in years. It has instead watched as British companies (like the chipmaker Arm Holdings) go public on larger exchanges in New York.
