Shein, a fast fashion giant based in China, is in the process of being listed on the London Stock Exchange. In early June, the company submitted the necessary documents for the listing to the UK’s financial regulator, according to reports from the news agency Reuters. This move comes after negotiations for a London Stock Exchange listing began earlier this year, although the exact date of the initial public offering has not yet been revealed. If the listing goes through, it could be one of the largest stock market listings globally this year.
Initially, Shein had considered listing on the New York Stock Exchange, but eventually opted for London due to challenges faced in the United States. The company’s decision to change listing locations was reportedly influenced by the complicated international political landscape. Despite having moved its headquarters from China to Singapore a few years ago, Shein still primarily operates in mainland China. The Chinese government’s reluctance to allow Chinese companies to list on Wall Street has caused delays for Shein, as it awaits approval from Chinese authorities.
According to the trade magazine, Bloomberg, Shein’s IPO in London could inject some much-needed life into Britain’s struggling IPO market. In the previous year, new IPOs in the UK only managed to raise around one billion dollars in funds, making Shein’s potential listing a significant development for the London Stock Exchange.