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Fast fashion retailer Shein doubles profits as it awaits IPO approval
Company founded in China and promoted on social media is thought to be considering London listing
Shein, the online fast fashion retailer founded in China, has more than doubled its profits to more than $2bn (£1.6bn) as it awaits approval for a stock market listing in New York or London. The UK chancellor, Jeremy Hunt, reportedly held talks with the Shein boss, Donald Tang, in February to try to persuade him to float the company on the London Stock Exchange. The company is thought to be considering a London listing because it believes that the US Securities and Exchange Commission is unlikely to approve its initial public offering (IPO).
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