Shein is closer to giving London huge IPO boost - reports

Chinese e-retailer Shein is reportedly nearing its application to list on the London Stock Exchange, that's according to a Reuters report.

It comes after stalled attempts to float in New York, with London now said to be presenting a more favourable regulatory environment.

Shein was given a valuation of $66 billion last year, so if concluded it would be a notable boost to London’s recently waning IPO market.

“Such a huge listing would be a boon for London markets which have seen very little incoming activity to offset the companies leaving the field, but it could ultimately prove a poisoned chalice unless the company can overcome key concerns about its working practices,” said Danni Hewson, head of financial analysis at AJ Bell.

She added: “With Shein reportedly homing in on a potential London IPO the last thing the Chinese fast fashion retailer needed was further scrutiny of its supply chain.

“Reports of 75-hour days for workers churning out its myriad of products will prove uncomfortable reading for potential investors and consumers alike.”