Shein reportedly considers selling shares to public

Valued at $66 billion following a funding round in May 2023, Shein’s London listing would become the largest in the city’s history

Fast fashion giant Shein is reportedly considering selling its shares directly to the British public as part of a potential £52 billion listing on the London Stock Exchange (LSE).

The firm’s bankers, including JP Morgan, Goldman Sachs and Morgan Stanley, are pushing for plans to sell to retail investors along with institutional investors, as per The Telegraph. Plans are at an early stage and no decision has been taken yet, the report added.

Individual investors are usually only able to buy shares on the open market once trading begins, after banks, funds and asset managers have already had their fill.

While the Chinese-founded retailer was originally thought to opt for an IPO in New York, those plans may have been shelved amid concerns from US lawmakers and regulators.

Instead, the firm seems to have turned its eyes to the LSE. It reportedly filed papers in June with the FCA to proceed with the listing.

Valued at $66 billion (£50 billion) following a funding round in May 2023, Shein’s London listing would become the largest in the city’s history, exceeding the £36 billion debut of commodities giant Glencore in 2011.

While a London listing would be a boost for the IPO-starved exchange, some are concerned that a range of ethical issues at the firm mean it should not be welcomed to the bourse.

The firm has been criticised for failing to stamp out poor working conditions in its supply chains – a claim it rejects.

Founded in China, Shein moved its headquarters to Singapore in 2021. The brand’s popularity surged during the pandemic and its low prices continue to draw in customers.