Skip to content Skip to Search
Skip navigation

Mubadala-backed Shein courts investors before London IPO

Shein IPO Reuters/Edgar Su
A Shein pop-up store at a mall in Singapore, where the company now has its headquarters
  • China’s Shein to seek LSE listing
  • Fashion retailer valued at $66bn
  • Mubadala invested in Shein in 2023

Chinese fashion retailer Shein, which is backed by the Abu Dhabi sovereign wealth fund Mubadala, is courting European investors before an initial public offering on the London Stock Exchange.

Shein is due to hold informal meetings to answer questions and test the investment appetite of major investors in the coming weeks, before its planned IPO in London, according to a report by Reuters.

The company, now the world’s largest fashion retailer, is working towards launching the float in the current quarter, subject to it getting the approval from the UK markets watchdog, the Financial Conduct Authority.

Shein had originally targeted the New York Stock Exchange for its IPO, but switched to London because of regulatory concerns in both the US and China. It moved its headquarters to Singapore in 2022 for similar reasons

Shein has grown rapidly in recent years by offering low prices on clothing to consumers worldwide.

Its financial figures are not publicly available, but it was valued at $66 billion in a fundraising round last year, and analysts at Bernstein in April estimated that its net profit more than doubled last year to $2 billion from $700 million, giving it a profit margin of 4.4 percent of sales.

The fashion retailer raised $2 billion from investors, including the UAE’s Mubadala, in 2023.

Latest articles

Eni had paused its operations at the Zohr gas field but plans to resume drilling in Egypt by the end of the year

Italy’s Eni will restart gas drilling in Egypt and Libya

Italian energy company Eni is reviving its exploration operations on Zohr, Egypt’s largest natural gas field, by the end of the year, its CEO confirmed on Monday. “After some time, we were not really working on Zohr, we will restart drilling by the end of the year, and we are going to drill another well […]

If the Maaden deal goes ahead it will create the seventh largest aluminium manufacturer in the world

Bahrain’s Alba looking to Europe after Maaden deal

Aluminium Bahrain (Alba) will keep exploring mergers and acquisitions, with a particular eye on Europe, once it completes its multi-billion dollar deal with Saudi Arabian Mining Company (Maaden). The deal is expected to be signed off in the first half of next year. The two companies penned a non-binding agreement in September and are in […]

UAE to invest $54bn to meet sustainable energy goals

The UAE plans to invest up to AED200 billion ($54.4 billion) to meet sustainable energy demand over the next six years, minister of energy and infrastructure Suhail Al Mazrouei has said. The move intends to “decarbonise economy and achieve net-zero emissions by 2050”, the UAE state-run Wam news agency reported. “Our efforts to diversify the […]

Aircraft, Airliner, Airplane

Turkish Airlines profit falls despite revenue rising 8%

Revenue at Turkish Airlines rose 8 percent year on year in the first nine months of 2024 to $17 billion, driven by increased passenger numbers. The airline flew 65 million passengers from January to September, rising 2 percent annually, according to its latest investor presentation. Passenger revenue climbed 3 percent year on year to $14 billion, […]