Shein in Singapore website (ph Shein official website)
Shein is organizing itself in view of the potential ipo in London. As reported by Bloombergthe fast fashion giant would have chosen Barclays e Ubs as his advisors to support him in the listing operation Lse-London stock exchange. Having been in the preparation phase for several months now, the record price would be around 50 billion pounds (equal to 59.8 billion euros at today’s exchange rate) and could arrive as early as the beginning of next year.
However, negotiations were still ongoing and details of the IPO could still change, said the sources close to the matter who asked not to be named. In fact, the Singapore-based company is reportedly encountering more than one difficulty in carrying out the operation. For one, it would still be waiting for regulatory approvals in China and the UK, which may continue to be slow in arriving. The delays could in fact be attributed to various doubts raised regarding the ethics of the retailer’s supply chain. They had complicated the listing on the NYSE, the first place chosen by the e-tailer according to the first rumors circulating regarding the issue.
Just a few days ago, the British Prime Minister Keir Starmer said a Bloomberg television: “All companies planning to sell shares in London will be subject to workers’ rights checks,” responding to questions about whether his new Labor government would welcome a listing of Shein. In the meantime, according to the latest rumours, the e-tailer has confidentially submitted the documents to the British authorities to start the procedures necessary for the operation, which would revive the British market. The latter, in fact, has been suffering for some time from a shortage of hypos and a flight of local companies moving their securities to the United States. (reproduction reserved)
