Shein has secured additional banking partnerships as it prepares for its potential initial public offering in London.
Barclays Plc and UBS Group AG have been selected as bookrunners for the anticipated listing on the London Stock Exchange, according to a report from Bloomberg.
The fast fashion powerhouse has also been collaborating with firms such as Goldman Sachs Group Inc, JPMorgan Chase & Co, and Morgan Stanley in its preparatory efforts.
Insiders suggest that the listing could happen as soon as early next year, although they cautioned that negotiations are still in progress, and aspects of the flotation may evolve.
This development follows Shein’s recent informal roadshows across Europe aimed at engaging with key investors and addressing their inquiries.
The prospective IPO, which could value the retailer at about £50bn, has faced significant backlash from industry figures, who express concerns regarding the retailer’s utilization of a legal tax loophole for international shipments, which is perceived to provide the company with an unfair edge.
Additionally, questions regarding Shein’s labor practices have arisen. On Monday, Prime Minister Sir Keir Starmer stated that all companies intending to generate revenue from shares in London will undergo examination related to workers’ rights.
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