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Shein’s London IPO could be set to be delayed after the FCA is taking longer than usual to give its go ahead as it takes its time to assess the fast fashion retailer’s supply chains, according to Reuters.
The FCA is reportedly looking into Shein’s supply chain after receiving a challenge against the listing from an advocacy group for China’s Uyghur population.
Shein is also said to be awaiting approval from China’s securities regulator.
The news comes after Shein was thought to be targeting an early 2025 launch for its listing on the London Stock Exchange.
At the time, The Times said Insiders with knowledge on the topic stated that the company was gearing up to launch an official investor roadshow during the coming weeks. As such, meetings will be held between institutional investors and the fast fashion giant.
Furthermore, Shein’s founder Chris Xu and executive chairman Donald Tang have started meeting with investors in the UK to test their investment appetite and deal with their questions.
According to reports, the brand is thought to be working with Morgan Stanley, Goldman Sachs and JP Morgan on the float.
Various US-based investors with shares in British retailers are also thought to have been approached.
Shein has been preparing for its London float for a number of months after originally planning to float on the New York Stock Exchange.
However, it faced regulatory hurdles between China and the US, as well as pushback from American regulators.
