Fashion firm Shein to file 50 billion pound London IPO prospectus, Sky reports

Chinese-founded Shein did not immediately respond to a Reuters request for comment.

Shein, valued at $66 billion in a fundraising last year, started engaging with the London-based teams of its financial and legal advisors to explore a listing on the London Stock Exchange early this year, sources told Reuters in May.

The fast-fashion company stepped up preparations for its London listing after its attempt to float itself in New York faced regulatory hurdles and pushback from U.S. lawmakers.

However, senior British lawmakers are also questioning Shein’s suitability for a London listing and calling for greater scrutiny of the business. Shein, in response, has said it is strengthening governance and compliance.