The Chinese clothing giant Shein can apply for a listing on the London Stock Exchange as early as this week, according to a source familiar with the matter for Bloomberg.
H&M challenger Shein, which sells clothes online, would then have a valuation of £50 billion, equivalent to SEK 668 billion, according to Sky News. This would be one of the largest IPOs in London ever.
The timing of the application is not nailed down, according to the information.
Shein has focused on London instead of New York because the company believes it is impossible for the US financial regulator to approve such an application. Sources have previously told Bloomberg.
Shein is based in China but has its headquarters in Singapore.
