- London is currently competing with New York for the blockbuster £53bn float.
Some of Britain’s biggest fund managers have spoken out against plans for fast fashion giant Shein to list in London.
London is currently competing with New York for the blockbuster £53bn float, which would see Shein go straight into the blue-chip FTSE 100.
But UK money managers including Aviva Investors, Schroders and M&G may turn their backs on the listing over concerns about workers’ rights at the Chinese fashion giant.
Speaking: Some of Britain’s biggest fund managers have spoken out against Shein’s plans to list in London.
The UK’s Sustainable Finance and Investment Association said it does not want London to “become a place of last resort for companies with poor human rights records”.
A Channel 4 investigation in 2022 revealed that some Chinese workers were paid as little as 3p per garment while working 18-hour days. Shein’s profits reached £1.6bn last year.
