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Shein could decide whether to launch its blockbuster IPO in London as early as next week, City sources say.
Reports suggest the fast fashion giant is considering placing its £71 billion listing on the London Stock Exchange rather than in the US.
Shein chairman Donald Tang met with Chancellor Jeremy Hunt to discuss the potential float as part of a charm offensive in the city last month.
The US Congress’ latest threat to ban Chinese social media site TikTok is thought to take the move further away from New York as it sees less political risk in the UK.
Shein was founded in 2012 in Nanjing, China, and is now based in Singapore.
It’s time to make a decision: reports suggest Shein is considering placing its £71 billion listing on the London Stock Exchange rather than in the US.
Its popularity in Europe has exploded in recent years. It sells tops and dresses for just £5.
But Shein has been criticized for its environmental impact and treatment of workers in China.
The company declined to comment.