Shein is to file a confidential prospectus with the City regulator this month as it inches closer to launching its initial public offering.
The online fashion giant is preparing to file a prospectus with the Financial Conduct Authority as it seeks approval for a London listing, Sky News reported.
City sources said the filing could take place as soon as this week, or take place later this month.
The timing of the filing does not necessarily indicate when Shein will IPO, with some spectators believing a summer or early autumn stock market debut on the London Stock Exchange remains on the table..
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It also does not guarantee that the fast fashion giant will list in London, with a final decision subject to meetings with fund managers and the approval of listing authorities in the UK.
If it does go ahead, Shein is expected to seek to raise over £1bn from the sale of the new shares to investors – relatively modest in the context of an estimated valuation of around £50bn.
It comes as the fashion retailer’s chair Donald Tang has been in talks with several British politicians in recent months, with the likes of chancellor Jeremy Hunt in discussions with the executive to persuade him to commit to what would be one of London’s biggest corporate flotations.
Tang is also understood to have spoken to a number of frontbench Labour politicians, including shadow business secretary Jonathan Reynolds in the last few months.
Last month, it was reported that the retailer had approached former chancellor of the exchequer Sajid Javid about taking a role ahead of its IPO.
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