Shein ‘gains UK approval for planned London IPO’

Fast-fashion e-tailer still awaits green light from Chinese regulator — source

- JULIE ZHU HELEN REID HONG KONG/LONDON (REUTERS)

Online fast-fashion retailer Shein has secured approval from Britain’s Financial Conduct Authority (FCA) for its planned initial public offering in London, according to two sources with knowledge of the matter.

The FCA’s approval marks a significant step forward in the China-founded company's pursuit of a London listing after it confidentially filed papers with the British regulator last June.

But it will also have to contend with market turmoil caused by US President Donald Trump's 145% tariffs on Chinese goods and tighter rules on duty-free shipments from China to the US.

Shein, which sells $10 dresses and $12 jeans in more than 150 countries and was valued at $66 billion in its last fundraising round in 2023, will also need to secure approvals from Chinese regulators, notably the China Securities Regulatory Commission (CSRC), for the London float, sources have said.

The company in recent weeks informed the CSRC of the FCA’s approval but has yet to receive a green light from the regulator, said one of the sources. They declined to be named as the information remains private.

Shein and the FCA declined to comment, while the CSRC did not respond to a request for comment.