Shein pressing on with preps for London share sale: sources
Shein pressing on with preps for London share sale: sources
https://media.zenfs.com/en/video.reutersnews.com/0cfe3726c3a1621d8426bd15c005d916
STORY: Shein looks to be pressing ahead with plans for a share listing in London. Reuters sources say the China-founded online retailer will soon start holding informal roadshows across Europe. That’s when a firm planning an initial public offering meets investors to test their appetite for shares. The process may determine whether the fast-growing company can match a $66 billion valuation secured last year. There was no comment on the report from Shein, which is now headquartered in Singapore. Reuters reported in June that the firm had confidentially filed papers with UK regulators, kicking off the IPO process. One source says it now plans to float shares in the current quarter, subject to approval from market watchdogs. Shein had planned to list in New York, but was warned against the move by Chinese regulators, who said it would run into trouble over questions regarding its supply chain. The firm has faced pushback from U.S. lawmakers, who have raised concerns regarding its labor standards. If the London sale does now go ahead, it would be a shot in the arm for the city’s stagnant IPO market. The UK has seen just nine new listings this year, or half the number in 2023. That leaves London in tenth place in Europe, the Middle East and Africa in terms of IPO value. UK regulators have this year fast-tracked new rules meant to lure listings and help close the gap with U.S. and European bourses.
https://ca.finance.yahoo.com/video/shein-pressing-preps-london-share-065732080.html
https://media.zenfs.com/en/video.reutersnews.com/0cfe3726c3a1621d8426bd15c005d916
STORY: Shein looks to be pressing ahead with plans for a share listing in London. Reuters sources say the China-founded online retailer will soon start holding informal roadshows across Europe. That’s when a firm planning an initial public offering meets investors to test their appetite for shares. The process may determine whether the fast-growing company can match a $66 billion valuation secured last year. There was no comment on the report from Shein, which is now headquartered in Singapore. Reuters reported in June that the firm had confidentially filed papers with UK regulators, kicking off the IPO process. One source says it now plans to float shares in the current quarter, subject to approval from market watchdogs. Shein had planned to list in New York, but was warned against the move by Chinese regulators, who said it would run into trouble over questions regarding its supply chain. The firm has faced pushback from U.S. lawmakers, who have raised concerns regarding its labor standards. If the London sale does now go ahead, it would be a shot in the arm for the city’s stagnant IPO market. The UK has seen just nine new listings this year, or half the number in 2023. That leaves London in tenth place in Europe, the Middle East and Africa in terms of IPO value. UK regulators have this year fast-tracked new rules meant to lure listings and help close the gap with U.S. and European bourses.
https://ca.finance.yahoo.com/video/shein-pressing-preps-london-share-065732080.html