AsianFin -- Online fast-fashion giant Shein is under pressure to reduce its valuation to approximately $30 billion as it prepares for a potential London listing, according to a Bloomberg News report on Monday, citing sources familiar with the matter.
Shareholders are reportedly advocating for this valuation adjustment to facilitate the successful completion of the initial public offering (IPO) in the UK.
Shein, founded by China-born entrepreneur Sky Xu, has not responded to a Reuters request for comment on the matter.
Earlier this month, Reuters reported that Shein was considering lowering its valuation to around $50 billion for a potential London listing—nearly a quarter less than its $66 billion fundraising valuation in 2023—amid increasing market challenges.
Last week, the Financial Times revealed that Shein's plans to list on the UK stock market might be delayed until the second half of this year. This follows U.S. President Donald Trump's move to tighten so-called "de minimis" rules, which could impact the company's operations.
Shein had initially aimed to go public in London in the first half of this year, contingent on securing approvals from regulators in both the UK and China, as previously reported by Reuters.
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