Shein, the Chinese fast-fashion provider, has been considering submitting confidential documents to the stock exchange supervisory authority in London. If Shein decides to list on the London Stock Exchange, it is anticipated that the company could raise over a billion pounds by selling new shares to investors. In its most recent financing round last year, Shein was valued at 66 billion dollars (61 billion euros).
Sky News reported that Shein had previously confidentially applied for an IPO in the USA in 2023 but faced resistance. The company, originally founded in China and now based in Singapore, has faced allegations of using forced labor in its operations. Additionally, Shein has received criticism for its practice of selling products directly from China to customers in other countries, allowing the company to avoid import duties. These practices have raised concerns about the ethical implications of Shein’s business operations.
If Shein decides to list on the London Stock Exchange, it would be a significant achievement for the LSE as many IPO candidates have recently chosen not to list in the London financial center. According to sources, Shein had previously confidentially applied for an IPO in the USA but faced resistance due to ethical concerns surrounding their business practices. The LSE will be closely monitoring any potential listing by Shein and ensuring that all regulatory requirements are met before approving any move forward.
