Shein's London IPO given green light by FCA - report

11th Apr 2025 09:51

(Sharecast News) - The Financial Conduct Authority has reportedly given the green light to Shein's proposed initial public offering in London, paving way for the controversial stock-market debut of the Chinese fast-fashion retailer.

According to Reuters on Friday, which cited two people familiar with the matter, has secured approval from the UK regulator but still requires the nod from the China Securities Regulatory Commission (CSRC).

While Shein's headquarters moved to Singapore in 2022, the majority of its production takes place in China, and therefore gives the CSRC the power to block the listing.

According to reports in February, the firm was considering reducing its valuation to around $50bn as part of a London listing, nearly a quarter of the value assigned to it during its most recent fundraising in 2023.

Plans for an IPO, which follows Shein's failed attempt to go public on Wall Street last year due to political and regulatory hurdles, have received political and public backlash since they were first announced due to concerns about the company's environmental impact and alleged human rights abuses.

The company's ability to manufacturer ultra-cheap clothing at scale has resulted in claims of forced labour, along with numerous alleged labour law violations - all of which the retailer has denied.