Online fast-fashion group Shein has filed confidential paperwork for an initial public offering (IPO) with the UK’s market regulator, taking the company a step closer to what could be a blockbuster listing for London, reports the Financial Times. The Chinese-founded group could fetch a market valuation of about £50 billion.
Shein, which grew in popularity during the coronavirus pandemic when millions of people switched to online shopping, submitted the pre-listing documentation with the Financial Conduct Authority this month, said one of the people.
The filing is a precursor to the Singapore-domiciled company releasing its IPO prospectus, which the UK regulator would have to approve before the listing.