Shein is considering asking UK regulators to refrain from using listing rules that require at least 10% of its shares to be sold to the public through its planned London IPO, according to two insiders.
According to Reuters, one of these sources said that the fast fashion chain is looking into this option to facilitate its planned London flotation.
If given the green light, this would likely be the first time a business in London has been permitted to list under the 10% rule, introduced in 2021.
A 10% flotation of Shein would make its IPO worth £5.20bn ($6.6bn).
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Shein’s current valuation and how much it is seeking to raise through its London listing is not currently known.
Last week, it was reported that Shein was still waiting for the UK’s financial regulator to approve its IPO after it received challenges about its supply chain.
The Financial Conduct Authority is understood to be checking the retailer’s supply chain oversight and assessing legal risks after an advocacy group for China’s Uyghur population challenged the listing that was filed in June.
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