Fashion behemoth Shein is expected to file documents with regulators in the coming weeks which will take it a step closer to a £50bn float in London. The China-founded retailer, which is headquartered in Singapore, is likely to spark controversy with a listing in Britain. High street leaders are understood to be lobbying ministers over Shein’s alleged use of tax loopholes , while the company is thought to be listing in the UK rather than New York amid US regulatory hurdles for companies with links to China.
Shein, which owns British fashion brand Missguided, is preparing to file a prospectus to the Financial Conduct Authority as soon as this week, according to Sky News. The company would become one of the largest members of the FTSE 100 if the listing goes ahead. Read the latest updates below.
UK stock markets leapt higher at the start of the week after data from the US indicated that inflation may be easing after a persistent first three months of the year. The FTSE 100 rose 1.1pc to 8,361.
99 while the midcap FTSE 250 gained 0.5pc to 20,823.64.
Saudi Aramco’s top executives are expected to hold a series of events in Britain and the US as they seek to drum up interest for a $12bn share sale. Saudi Arabia’s state-owned oil giant scrapped an international roadshow for its $29.4bn initial public offering five years ago after overseas investors turned their noses up at its valuation expectations, leaving the government reliant on local buyers.
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