Fast fashion giant Shein is to hold a series of informal meetings with potential investors as it seeks a blockbuster listing on London’s Stock Exchange.
Shein, which has been dogged by controversy while becoming one of the biggest apparel retailers, intends to stage an investor roadshow across Europe, Reuters reported.
The meetings will enable the online retailer to gauge interest in an IPO, which has previously been valued at as much as $66bn.
Shein is thought to have filed UK regulatory documents in June, ahead of a listing that could potentially come later this year.
The retailer has won a huge customer base internationally on the back of low prices. However, it has also drawn fire for perceived connections to the authorities in China and for conditions in its supply chain. Shein had previously considered a listing in the US, but faced opposition from influential politicians there.
Earlier this year Liam Byrne, the Labour politician who chairs Parliament’s Business and Trade Committee called for more scrutiny of Shein’s supply chain. Some believe that a London listing would mean Shein could be scrutinised more closely, and have argued that it should proceed despite concerns expressed by campaign groups and others.
A London listing would also be seen by some as a boost for the Stock Exchange, which has been losing out to rivals in the US in particular.
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