- Cheap product market giant Suin targets London stock market
- The Singapore-based company is working with advisers at US banks Goldman Sachs, JP Morgan and Morgan Stanley on the process
Cheap product market giant Suin targets London stock market
According to reports, the Chinese-founded fast-fashion firm Shein is targeting a London stock market float early next year.
The Times reported that the firm is preparing to launch an initial public offering (IPO) on the London Stock Exchange in the first quarter of 2025.
The blockbuster float is expected to value the retail giant at around £50 billion ($63 billion).
Sources told the newspaper that it is planning to hold an initial investor roadshow in the coming weeks, during which it is expected to meet with institutional investors.
It will then publish a prospectus for the stock market float, circulating among select stakeholders.
Shein has been contacted for comment.
The Singapore-based company is working with advisers at US banks Goldman Sachs, JP Morgan and Morgan Stanley on the process
After facing heavy scrutiny over the initial intentions to list in the US, the company has targeted a London listing, 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 shortage of IPOs on London's public markets.
However, politicians and campaigners have also raised significant concerns over potential ethical and governance issues, particularly those linked to its labor and supply chain.
Although the company is based in Singapore, the bulk of its operations are still in China, which is also expected to complicate the listing process.
Last month, Shein revealed its sales surpassed £1.5 billion in the UK last year as its profits almost doubled.
Based on DPA reports
