Financial news reports, London Stock Exchange announcements.

Shein Targets £53 Billion London IPO in May Amid US Hurdles

May 13, 2024, 05:47 AM

Fast-fashion giant Shein is intensifying its efforts to list on the London Stock Exchange after facing regulatory challenges and legislative opposition in the United States. The company's plans for an initial public offering (IPO) in New York were impeded by regulatory hurdles and pushback from US lawmakers over concerns including alleged labor malpractices, according to two sources. In response, Shein is now focusing on a London listing, aiming to file as soon as May. This move is seen as a significant boost for London, with Shein's potential listing valued at approximately £53 billion. Additionally, Shein has faced rejections from the National Retail Federation (NRF) in its attempts to join the industry's largest trade association.