Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Shein turns its back on New York steaming ahead with £53bn London listing plan

by May 12, 2024
May 12, 2024
Shein turns its back on New York steaming ahead with £53bn London listing plan

Shein, the Chinese-founded online fast-fashion retailer, is reportedly accelerating its plans for a record-breaking £53 billion float in London.

The decision to list in London comes after the company turned away from New York amid tensions between China and the US.

The company, based in Singapore, is expected to update China’s securities regulator on the change of stock market venue and file its intention to float in London as soon as this month, according to sources. While the timing is considered optimistic, the company aims to complete the London float by the end of the year.

Shein’s founder, Sky Xu, and executive chair, Donald Tang, have visited London recently to discuss the plans, reportedly receiving a warm reception from UK officials. Bankers at JP Morgan, Goldman Sachs, and Morgan Stanley are said to be working on the float, which could yield a fee bonanza of at least $600 million if successful.

The potential listing would provide a boost to London’s stock exchange, which has faced challenges in attracting companies compared to other exchanges like New York and Amsterdam. The FTSE 100 recently closed at a record high, indicating improving appetite for London-listed shares.

However, a London float for Shein would likely face controversy, particularly from environmental campaigners concerned about fast fashion’s impact on waste. Despite preparing for a London listing, Shein reportedly still prefers New York and will continue efforts to overcome political hurdles there.

Shein’s rapid growth since its founding in 2012 has been significant, with the company reporting substantial profits and a large customer base. It moved its operations to Singapore in 2022, seen as an attempt to distance itself from its Chinese origins.

Read more:
Shein turns its back on New York steaming ahead with £53bn London listing plan

0
FacebookTwitterGoogle +Pinterest
previous post
British Steel nearing multibillion-pound taxpayer rescue
next post
Guide Dog Befriends DPD Robot Following Initial Spook

You may also like

Labour Faces Hurdles with Shein’s £50bn London Listing...

June 4, 2024

Cycling to work halves risk of early death...

July 17, 2024

Royal Mail resumes overseas deliveries via post offices...

February 21, 2023

UK banks pull half of first-time buyer friendly...

October 25, 2022

Mortgage affordability test scrapped by Bank of England

August 1, 2022

Is It Time for You to Do Business...

January 15, 2025

Apple reveals Vision Pro AR headset at its...

June 7, 2023

How to find your dream home in Dubai

May 17, 2023

Telefónica Tech Determines The Cybersecurity Environment Alterations Amidst...

August 16, 2023

Hospitality firms plead for energy bill support to...

August 16, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Unmasking Medicaid Money-Laundering Schemes: Medicaid Financing Gimmicks 101

      June 27, 2025
    • Top moments from the Trump-Biden debate that changed the course of the 2024 election

      June 27, 2025
    • Trump exerted ‘maximum pressure’ on Iran and Israel to ‘deliver peace’: Leavitt

      June 27, 2025
    • Iranian foreign minister reiterates ‘serious damage’ to nuclear facilities, despite ayatollah’s comments

      June 27, 2025
    • Maybe Most People Do Not Want Teacher-Led Public School Prayer—But They Do Want Chaplains

      June 27, 2025
    • Flashback: The debate night against Trump that threw Biden’s reelection campaign into a free fall

      June 27, 2025

    Categories

    • Business (8,329)
    • Investing (2,076)
    • Politics (15,829)
    • Stocks (3,173)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved