Fast-fashion retailer Shein could kickstart its plans for an IPO in London as soon as this week and set in motion what would be one of the London Stock Exchange’s biggest deals in over a decade, according to reports. The Chinese-founded Gen-Z favourite, which has been meeting with London Stock Exchange bosses in recent months, is on the cusp of filing an IPO prospectus for approval with the Financial Conduct Authority, Sky News’ Mark Kleinman reported. The application could come as soon as this week, though there was a possibility it will be delayed to later in the month, sources told the outlet.
Any deal will likely fetch Shein a price tag north of £50bn and will be among the biggest floats in London in the past ten years. However, reports of the move have already divided opinion in the City and Westminster due to concerns over its supply chain practices and perceived ties to China. A report from the advocacy group Public Eye in 2021 sounded the alarm on Shein’s supply chains after finding that workers at six Shein suppliers were subject to punishing 75 hour weeks in factories with blocked corridors and stairways.
In response Shein said it has built an in-house team to monitor supply-chain partners. But a report earlier this month raised fresh concerns over the facilities and methods used to produce the cheap clothing Shein ships around the world. MPs and campaign groups have called for caution before the London Stock Exchange opens its doors to the firm.
“With Shei.
