Shein, the online fashion behemoth, is on the verge of taking a huge stride towards a London flotation that would value it at about £50bn and rank among the most significant – and contentious – deals in the UK’s capital markets for years. Sky News can exclusively reveal that Shein, which was founded in China but is headquartered in Singapore, is preparing to file a prospectus with the Financial Conduct Authority for approval ahead of its potential float. City sources said on Sunday evening that the confidential filing could take place as soon as the coming week, although it could yet take place later this month.
The milestone in the listing process would be the clearest sign so far that Shein, which owns the British fashion brand Missguided , is to become London's most high-profile public float for more than a decade. The timing of the filing does not necessarily indicate when an initial public offering would take place, although some observers believe a summer or early autumn stock market debut in London remains on the cards. Shein had initially targeted a New York listing but has been beset by political opposition which has resulted in a lukewarm reception from regulators.
By contrast, Sky News revealed earlier this year that Donald Tang, Shein's executive chairman, had met Jeremy Hunt, the chancellor, earlier this year, alongside other ministers and executives from the London Stock Exchange. The meeting between Mr Hunt and Mr Tang underlined the importance that Brit.