Chinese fast-fashion giant Shein Group is preparing to hold an investor roadshow in preparation for a potential initial public offering in London, according to sources cited by Reuters.
Shein has reportedly been meeting with advisers to discuss its listing plans, although no final decisions have been made regarding the timing or size of the IPO.
The company is expected to use the roadshows to gauge investor interest and provide more details about its financials.
Shein is reportedly seeking a $64 billion valuation in a public listing, which would make it among the largest London IPOs of all time.
It comes amid a torrid time for the London Stock Exchange, with few to no blockbuster IPOs in recent years and numerous high-profile exits.
But the prospect of Shein floating in London has proved highly controversial because of the group’s reported links to forced labour in its supply line
The retailer, known for its strong online presence, was valued at $66 billion earlier this year in a funding round. While Shein has not officially commented on the potential listing, insiders suggest that preparations are well underway.
In June, UK charity Stop Uyghur Genocide, with support from human rights lawfirm Leigh Day, called on the Financial Conduct Authority to block any listing of Shein shares on the London capital markets.
Shein disclosed multiple instances of child labour in its supply line in August.