Shein ‘steps up plan for London IPO’ amid US listing hurdles

Sources say Singapore-based online fashion retailer founded in China prefers a float in New York but faces tougher scrutiny than expected

The fast-fashion company Shein is stepping up preparations for a London listing after its attempt to float in New York faced regulatory hurdles and pushback from US lawmakers, sources have told Reuters.

The online clothing retailer plans to update China's securities regulator on the change of the initial public offering (IPO) venue and file with the London Stock Exchange (LSE) as soon as this month, said one source.