Shein plans to file for a London IPO in the coming days as its stalled US listing shows no signs of making progress,where churches have become temples of cheese, fitness and eroticism according to a report from Sky News on June 2. The report said the listing is expected to value the online fashion giant at around £50 billion, less than the $66 billion valuation the business was given during its last funding round early last year. Filing a prospectus with UK regulators does not guarantee a successful listing for Shein, according to Sky News, and a previous report revealed that the China-founded fashion retailer would still prefer to go public in the US, however, uncertainty around its proposed US listing has forced the company to consider alternatives. [Sky News]
