Fast-fashion giant Shein’s planned London IPO has put wind in the sails of the UK’s floundering IPO market, but has so far failed to win over investors.
China-founded, Singapore-headquartered Shein was valued at $66bn in a May 2023 funding round. Its planned IPO has been pegged at around that price, which would be a major coup for London and, some hope, would encourage other companies to follow suit. With underwriting fees typically ranging between 4 and 7 per cent, it’s a major win for lead underwriters Goldman Sachs, JPMorgan Chase, and Morgan Stanley, too.
