17th Feb 2025 08:35
(Alliance News) - The London listing of fast-fashion retailer Shein is likely to be delayed due to US President Donald Trump's imposition of tariffs on small goods from China, the Financial Times reported on Friday.
The online retailer, which sells clothing made in Chinese factories to consumers around the world, previously had told investors that its initial public offer in London could happen as soon as Easter, the newspaper said.
However, the IPO is now likely to be pushed back into the second half of the year, the FT reported, citing "three people familiar with the process".
Singapore-based Shein was valued at USD66 billion in its most recent funding round in 2023, the newspaper said, and filed confidential papers in June last year with UK regulators for a proposed IPO.
Earlier this month, Trump announced that the US exemption of tariffs on goods under USD800 in value would be scrapped and an additional 10% tariff applied to all goods from China imported into the US.
By Tom Waite, Alliance News editor
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