Shein Unveils Strategy For A £53bn London Initial Public Offering

Shein is intensifying its efforts towards an unparalleled £53bn IPO on the London Stock Exchange.

The prominent Chinese fast-fashion retailer has opted for London as its listing hub due to regulatory complexities in China and the US, along with resistance from US legislators.

Sources mentioned by Reuters reveal Shein’s plan to notify China’s securities watchdog about transferring its listing from New York to London, with intentions to submit documents to the London Stock Exchange later this month.

Despite the ambitious schedule, a Shein insider shared that the company targets to finalize the London IPO by the year’s end.

JP Morgan, Goldman Sachs, and Morgan Stanley are said to be overseeing the high-profile IPO and are set to gain substantial fees, projected to amount to no less than $600m (£480m) if the listing progresses.

An inclusion in London’s listings would offer a welcomed lift to the City, addressing concerns that London is trailing other stock exchanges, notably New York and Amsterdam, in attracting listed firms.

Shein’s earnings skyrocketed to over $2bn (£1.6bn) in April, more than doubling from the previous period. Insiders familiar with the matter informed the Financial Times that the company achieved sales of around $45bn last year.

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The article was initially posted on Voguish.Life under the title Shein Shares Plans For A £53bn London IPO.