Online fast-fashion group Shein has filed confidential paperwork for an initial public offering with the UK’s markets regulator, said two people familiar with the matter.
The move is taking Shein a step closer to what could be a blockbuster listing for London, following the company’s decision to ditch a planned IPO in New York. The Chinese-founded group could fetch a market valuation of about £50bn.
Shein, which grew in popularity during the coronavirus pandemic when millions of people switched to online shopping, submitted the pre-listing documentation with the Financial Conduct Authority earlier this month, said one of the people.
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