Chinese fast fashion giant Shein may sell shares directly to the British public as part of a £50bn stock market flotation in London, it has emerged.
The company is in the early stages of examining a possible sale to retail investors alongside City institutions, sources said.
Such a move would be unusual — companies typically sell large chunks of their stock to banks, pension funds and asset managers when they list on the stock market, with individual investors only able to buy shares on the open market once trading begins.
Shein’s bankers, which include JP Morgan, Goldman Sachs and Morgan Stanley, are understood to be running the rule over proposals to sell directly to the public, although the plans are at an early stage and no decision has been taken.
A retail offer could see Shein shares offered to its Gen Z customers or a broader range of retail investors through specialised platforms.
The plans are being looked at as Shein considers whether to push ahead with a London listing.
The company took the first step at the end of June when it filed paperwork with the Financial Conduct Authority. It has also filed paperwork with Chinese regulators.
The retailer is also exploring plans for its first British warehouse, the Telegraph recently reported, as part of efforts to address complaints that it pays lower taxes than rivals by shipping orders directly from China.
If Shein floated it would be the largest listing in London ever, topping the £36bn debut of miner Glencore in 2011. Shein was valued at $66bn (£50bn) in May 2023 after it raised $2bn.