SHEIN has added more banks to support its initial public offering (IPO) in London, which would value approximately US $ 65 billion and potentially be one of the biggest listings in London in recent years. Barclays Plc and UBS Group AG have been appointed as bookrunners for the listing. The IPO could occur as soon as early next year, though discussions are ongoing and details may change.
The company has been preparing for IPO with existing partners Goldman Sachs Group Inc., JP Morgan Chase & Co., and Morgan Stanley. According to reports, representatives for Barclays, UBS, and SHEIN declined to comment.
Earlier this year, SHEIN confidentially filed papers with the UK authorities to pursue a London listing after an attempt to list in the US stalled. The US Securities and Exchange Commission had declined the company’s request to submit a confidential preliminary prospectus. The listing still requires regulatory approval in both China and the UK.
Amid SHEIN’s listing plans, UK Prime Minister Keir Starmer indicated that all companies aiming to go public in London would face scrutiny over workers’ rights.