Shein Considers Landmark IPO on LSE

Amidst difficulties in the US, online retail giant Shein is reportedly considering conducting the largest-ever initial public offering (IPO) on the London Stock Exchange (LSE). The move comes as Shein faces obstacles in obtaining approval for its IPO from the US Securities and Exchange Commission (SEC), with concerns raised by lawmakers such as Senator Marco Rubio regarding human rights violations in China's Xinjiang region.

Shein has denied these allegations and expressed interest in listing in London, potentially aiming for a valuation of around $90 billion, a significant boost for the LSE. This development underscores the LSE's efforts to regain prominence as a global financial hub following Brexit, amidst recent departures of European companies like Tui opting for listings in Germany and Arm Ltd's IPO in the US.