18th Nov 2024 09:22
(Alliance News) - Shein is targeting a London stock market float early next year, according to reports.
The Chinese-founded fast fashion firm is preparing to launch an initial public offering on the London Stock Exchange in the first quarter of 2025, The Times has reported.
The blockbuster float is expected to value the retailer at around GBP50 billion.
Sources told the newspaper that it is planning to hold an initial investor roadshow in the coming weeks, where it is expected to hold meetings with institutional investors.
It will then publish a prospectus for the stock market float, which is currently circulating among select stakeholders.
Shein has been contacted for comment.
The Singapore-based company is working with advisers at US banks Goldman Sachs Group & Co, JPMorgan Chase & Co and Morgan Stanley on the process.
The company has targeted a London listing after facing heavy scrutiny over the initial intentions to list in the US, where it would need to submit a public filing with the US Securities and Exchange Commission.
The proposed listing would be one of the biggest in London for years and comes amid a continued dearth of IPOs on London's public markets.
However, there have also been significant concerns raised by politicians and campaigners over potential ethical and governance issues, particularly linked to its labour and supply chain.
Although the company is based in Singapore, the bulk of its operations are still in China, which is also expected to add complexity to the listing process.
Last month, Shein revealed its sales surpassed GBP1.5 billion in the UK last year as its profit almost doubled.
By Henry Saker-Clark, PA Deputy Business Editor
Press Association: Finance
source: PA
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