UK: Sources say Shein's London IPO could come as early as Easter
"Shein aims for London IPO by mid-year, sources say" 9 January 2025
Online fast-fashion retailer Shein is aiming to list in London in the first half of the year, according to two sources with direct knowledge of the matter, assuming it gains regulatory approvals for the initial public offering.
The IPO could be completed as early as Easter, which is April 20, one of the people said... A second person with knowledge of the matter said Shein, founded in China in 2012, is working towards listing in the first half of this year, but the definitive timeline is still in flux...
Shein declined to comment, the FCA said it does not comment on potential listing applications, and Britain's finance ministry did not reply to Reuters' questions.
Even though it moved its headquarters from Nanjing to Singapore in 2022, Shein also requires permission from the China Securities Regulatory Commission, making it subject to offshore listing rules, as most of its 5,800 contract manufacturers are in China. New rules passed by the CSRC in 2023 allow it to vet and potentially block offshore listings. The CSRC did not immediately reply to questions about Britain's visit and Shein's IPO.
Shein is walking a political tightrope as it tries to show it has measures in place to limit the risk of human rights violations in its supply chain while avoiding any direct claims about China's Xinjiang province - a top cotton-producing region where the United States and NGOs have accused the government of forced labour and other abuses against Uyghur people...