Shein’s reclusive Chinese billionaire founder has travelled to the UK to meet investors in anticipation of a possible listing of the fast-fashion group on the London stock exchange, according to two people with knowledge of plans, reports the Financial Times. Sky Xu’s presence underscores Shein’s hope that it will receive the necessary regulatory approvals in China and the UK to move forward with a London listing.
Xu was accompanied by his finance chief and bankers at one of the meetings, one person with direct knowledge of the discussions said. The talks were focused on Shein’s growth prospects rather than its listing process, they added.
The meetings were informal and not an official investor roadshow, the second person said. They added that if Shein were to get the green light for an IPO in the UK, a listing would be more likely early next year than this year.