Shein is preparing to start early, informal investor meetings in the coming weeks for its planned London IPO, as the fast fashion giant awaits UK regulatory approval.
The Chinese online retailer is set to hold informal roadshows primarily in Europe, according to a source familiar with the matter who spoke to Reuters. During these events, it will address questions from major investors and gauge their interest in investing.
Shein aims to launch its float within the current quarter, pending approval from regulator the Financial Conduct Authority (FCA), according to a separate source familiar with the situation.
But while the business prepares for its market debut, concerns about its treatment of workers and environmental practices have come under heightened scrutiny.
The fast fashion giant’s ability to convince large global institutional investors to back it will determine whether it is able to match the £55bn valuation it achieved last year.
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As of Thursday, a review of the CSRC website, which lists approved offshore IPO candidates, did not include Shein.
The Shein share offering would provide a much-needed lift to London’s sluggish IPO market. However, the retailer has faced steep criticism from industry leaders since who are concerned over its use of a legal tax loophole for overseas shipments that have given the company an unfair advantage.
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