Shein is strategically advancing its plans to go public in London.
- The company has appointed Barclays Plc and UBS Group AG as bookrunners.
- Preparation involves collaboration with major financial players like Goldman Sachs.
- Speculations suggest a potential listing as early as next year.
- The IPO has sparked concerns over Shein’s tax practices and labor conditions.
Shein is taking decisive steps toward its initial public offering (IPO) in London, enlisting Barclays Plc and UBS Group AG to enhance its public offering strategy. These firms will play pivotal roles as bookrunners, coordinating the sale of the company’s shares. This move follows Shein’s ongoing partnership with notable financial institutions Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley, who have been involved in the company’s preparatory measures.
The anticipated IPO could take place by early next year, though it remains subject to change as strategic deliberations are ongoing. Such flexibility underscores the dynamic nature of high-stakes public offerings.
Shein’s valuation for the IPO is projected to be approximately £50bn, marking a significant event in the fast-fashion industry. However, this potential market debut has not been without controversy. Industry leaders have voiced strong criticism against Shein’s use of legal loopholes concerning overseas shipments that purportedly bestow the company an unfair competitive edge.
Additionally, concerns regarding labor practices have been brought to the forefront. The conversation around Shein’s operational ethics has been underscored by statements from high-profile figures, such as Prime Minister Sir Keir Starmer, who noted the importance of scrutinizing workers’ rights in companies seeking to list on the London Stock Exchange.
Shein’s strategic maneuvers toward a London IPO spotlight critical issues of corporate ethics and competitive fairness.
