The Chinese-founded company was valued at $66 billion in a fundraising round last year.
Shein has confidentially filed papers with Britain’s markets regulator in early June for a potential London listing, according to two sources, as the online fast fashion retailer progresses with what could be one of the largest IPOs globally this year.
The Chinese-founded company, which was valued at $66 billion in a fundraising round last year, began engaging with its financial and legal advisors to explore a listing on the London Stock Exchange earlier this year, sources informed Reuters in May.
It remains unclear when Shein, renowned for its $5 tops and $10 dresses, intends to launch the initial public offering (IPO).
Both sources, who have knowledge of the deal, declined to be named as they were not authorized to speak to the media.
A spokesperson for Shein declined to comment. The Financial Conduct Authority (FCA), the UK markets watchdog, did not immediately respond to Reuters’ request for comment.
