Shein has secured preliminary approval from the UK’s financial watchdog to float in London, taking the ecommerce company a step closer to a stock market listing.
The Financial Conduct Authority approved Shein’s initial public offering prospectus in recent weeks, according to two people familiar with the process. Its consent came well before US President Donald Trump unleashed chaos in global markets by singling out China after pausing some tariffs on other trading partners.
The nod by the FCA is only a precursor to final approval by the watchdog if the fast-fashion group were to go ahead with the float, the people added. The FCA’s preliminary approval was first reported by Reuters.
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