Shein, an online fashion retailer, is set to submit a prospectus to Britain’s Financial Conduct Authority for approval. This step is in preparation for a potential listing on the London Stock Exchange, which could value the company at around 50 billion pounds ($63.70 billion), according to a report by Sky News.
The report, citing sources, added that the confidential filing could occur as early as next week.
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Queries directed towards Shein did not receive a response.
Regulatory Challenges and U.S. Opposition
Shein, which was valued at $66 billion during a funding round last year, started working with the teams of its financial and legal consultants headquartered in London earlier this year to explore the possibility of a listing on the London Stock Exchange, sources told Reuters in May.
After encountering regulatory obstacles and opposition from U.S. lawmakers in its attempt to go public in New York, the fast-fashion company intensified its preparations for a listing in London.
Continue Exploring: Shein considers London IPO amid US listing hurdles
However, prominent British legislators are calling for closer examination of Shein and questioning the company’s eligibility for a London listing. Shein has responded by reiterating its commitment to strengthening governance and compliance protocols.
