From 31m ago 07.06 BST Introduction: Online fashion giant Shein to file prospectus for London float Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy. Online fashion giant Shein is heading closer towards floating on the London stock market – a boost for the City, after the company’s efforts to list in New York hit a snag.
Shein , which was recently valued at $66bn (£52bn), is planning to file a confidential prospectus with the City regulator this month, according to several reports this morning. This would take it a step closer to a London listing, and let it list more quickly if it decides to take the plunge – perhaps this summer, or in the autumn. Sky News reported last night that the confidential filing could take place as soon as the coming week, although it could yet take place later this month.
Shein had initially aimed for a Wall Street float, but those ambitions have been rocked by political opposition as tensions between Washington and Beijing have escalated. Shein , which launched as SheInside in 2011 in Nanjing, China, has taken the fashion world by storm, offering a very wide range of very affordable clothing. As my colleague Nicole Lipman explained in April: On today’s “New In” page, there are 8,640 items (yesterday there were 8,760).
The most expensive dress of the nearly 9,000 new arrivals – a floor-length, long-sleeved, fully sequinned plus-size gown, available in five sparkly colours –.
