The Chinese fast fashion giant, Shein, is currently in the process of being listed on the London Stock Exchange. The company submitted the necessary documents for the listing in early June, as reported by Reuters based on insider information. Although negotiations for the listing began at the beginning of the year, the exact date of the initial public offering has not yet been confirmed. If successful, this would be one of the largest stock market listings globally this year.
Initially, Shein had considered a listing in New York but due to complications shifted its focus to London. The reason behind this change is speculated to be the current tense political climate between China and the United States. Despite relocating its headquarters from China to Singapore a few years ago, Shein still primarily operates in mainland China. Obtaining approval from Chinese authorities to list on Wall Street has proved challenging, leading Shein to pursue a listing in London instead.
According to a trade magazine, this move could revitalize UK’s dwindling IPO market that had only raised approximately one billion dollars in funding last year. Shein’s potential IPO in London could bring much-needed energy and vitality to UK’s IPO market.
