Shein reported to be plotting a London Stock Exchange float next month

After months of speculation, Shein is anticipated to float on the London Stock Exchange as soon as next month, according to reports this weekend.

It was initially reported that Shein was in talks with London Stock Exchange bosses at the end of last year and reports suggest its £71m listing is imminent, though there has been no confirmation by the company.

Support for a blockbuster listing came from Chancellor Jeremy Hunt and Labour's Shadow Business Secretary Johnny Reynolds, following a visit from Shein's Chairman Donald Tang to the UK last month.

The China-founded company originally indicated a preference for an initial public offering in New York, where stock market valuations for online firms tend to be much higher. It filed documents for the US listing back in November. However, the latest threat by the US Congress to ban Chinese social media site TikTok was thought to have been the final kicker in moving away from a New York listing, leaving less risk in the UK.

Established in 2012, the business has mushroomed due to its cheap clothing and appeal to Gen Z consumers. It is now valued at around £53.8 billion.

Shein has already made meaningful ties to the UK with plans to open a hub in Manchester, which already houses HQs for the likes of Boohoo and In The Style. It also acquired Manchester-based fast fashion brand Missguided from Frasers Group in October last year, marking its first UK acquisition.

Shein has declined to comment on the reports.