Shein eyeing potential London listing
By Iain Gilbert
Date: Monday 03 Jun 2024
(Sharecast News) - Fast fashion retailer Shein will file paperwork for a potential floatation on the London Stock Exchange as soon as this week, according to Sky News, with an initial public offering potentially valuing the firm at roughly £51.7bn.
The Singapore-based business was reportedly eyeing up a confidential filing with the UK's Financial Conduct Authority as soon as this week.
Shein lodged paperwork for a potential New York listing with the Securities and Exchange Commission back in January. However, it has faced intense scrutiny from lawmakers due to concerns regarding its links to China amid tensions between the two economic powerhouses.
AJ Bell's Russ Mould said: "Shein may find the glare of a public market listing uncomfortable given concerns about its governance, supply chain and business practices. Boohoo's recent history provides a salutary lesson here. Clearly London will want the IPO to be a success to help rebuild its reputation as a listing venue so there's a lot riding on it for both parties.
"Shein is smart in its use of social media and has the ability to turn around new items incredibly quickly to suit customers' shifting tastes. However, it may increasingly bump up against a change in attitudes in the West towards fast fashion - with Gen Z increasingly concerned about sustainability and less willing to take a disposable attitude to fashion."
Reporting by Iain Gilbert at Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN