Online fashion firm Shein is preparing to file a prospectus with Britain’s Financial Conduct Authority for approval ahead of a potential London float, which could value the company at around 50 billion pounds ($63.70 billion), Sky News reported on Sunday.
The confidential filing could take place as soon as the coming week, according to sources cited in the report.
Shein, valued at $66 billion in a fundraising last year, began engaging with the London-based teams of its financial and legal advisors to look for a listing on the London Stock Exchange early this year.
The fast-fashion company increased its preparations for a London listing after facing regulatory hurdles and pushback from U.S. lawmakers during its attempt to float in New York.
However, senior British lawmakers are also questioning Shein’s suitability for a London listing and calling for greater scrutiny of the business. In response, Shein has stated that it is strengthening governance and compliance.
