Shein targets 2025 for London float
E-commerce giant Shein is set to target early next year for its £50bn float on the London Stock Exchange, subject to pending regulatory approvals. It is set to hold an official investor roadshow in the coming weeks, during which the IPO-bound company will field large investors’ questions and test their investment appetite, according to The [...]
E-commerce giant Shein is set to target early next year for its £50bn float on the London Stock Exchange, subject to pending regulatory approvals.
It is set to hold an official investor roadshow in the coming weeks, during which the IPO-bound company will field large investors’ questions and test their investment appetite, according to The Times. It has already held many such meetings in the UK.
After initially tabling plans to list in New York, Shein came under intense pressure from Washington over its labour practices and fears over its ties to China. The company then ditched the proposals and swapped its intended listing venue to London in early June.
Shein’s supply chain issues
Shein, which was valued at $66bn (£52.3bn) in April, has previously admitted to two cases of child labour in its supply chain. A BBC report in May found that workers for some company’s suppliers were still working 75 hours a week.
Delays from China may also slow the process down. Shein’s London stock listing plan still requires China Securities Regulatory Commission (CSRC) approval, and it remains unclear whether the company has received any guidance from the Chinese regulator.
In its latest results, the fast-fashion giant posted a revenue of £1.55bn for 2023, up from the £1.12bn it achieved in 2022. Shein recorded a profit of £18.7m, nearly double year on year.
