Connect with us

StyleonWards

StyleonWards

Shein Strengthens Banking Alliances in Preparation for London IPO

Onward

Shein Strengthens Banking Alliances in Preparation for London IPO

As it gears up for a potential initial public offering in London, Shein has established new banking partnerships.

According to a report from Bloomberg, Barclays Plc and UBS Group AG have been appointed as bookrunners for the eagerly awaited listing on the London Stock Exchange.

The fast fashion giant is also working alongside firms such as Goldman Sachs Group Inc, JPMorgan Chase & Co, and Morgan Stanley as part of its preparation efforts.

Sources indicate that the IPO could occur as early as next year, although they warn that discussions are ongoing and details of the flotation may change.

This news comes on the heels of Shein’s recent informal roadshows conducted across Europe to connect with key investors and address their concerns.

The anticipated IPO, potentially valuing the retailer at around £50 billion, has encountered considerable opposition from industry leaders, who are worried about the retailer’s use of a legal tax loophole for international shipments, which is seen as giving the company an unfair advantage.

Moreover, concerns surrounding Shein’s labor practices have been raised. On Monday, Prime Minister Sir Keir Starmer remarked that all companies planning to profit from shares in London will be scrutinized in relation to workers’ rights.

Image Source: Ployker / Shutterstock

More in Onward

To Top