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Shein Confidentially Files for London IPO in Early June Amid Regulatory Hurdles, $66B Valuation

Jun 24, 2024, 11:10 AM

Fast fashion retailer Shein has confidentially filed for a London IPO with the UK's markets regulator in early June, according to multiple sources. The move comes amid regulatory hurdles in the U.S., where experts say Shein's IPO plans are effectively dead. Investors have expressed concerns over the potential listing, with some attempting to sell their stock privately. Additionally, Shein faces legal action from a competitor in London, and there are worries that the listing could damage the London Stock Exchange's ESG reputation. The timing of the IPO remains unclear, but it could potentially be London's biggest in more than a decade. Shein was valued at $66 billion in a 2023 fundraising round. The IPO plan is currently in regulatory limbo.