Shein’s stock market deal could be the biggest ever in the UK – and one of its most controversial

After many months in which the narrative has been dominated by the London Stock Exchange’s best companies heading to Wall Street in search of new investors and higher ratings, the City appears to have lured a bright new bauble.

Fast fashion giant Shein, founded in China but now headquartered in Singapore, is expected to confirm plans to sell shares in the business on the LSE within days, in what will be the City’s biggest-ever initial public offering (IPO) at more than £50bn.

This, we are told, is a coup for the nation’s ailing financial centre. Britain’s politicians certainly see it that way – chancellor Jeremy Hunt met with Shein’s executive chair Donald Tang to make London’s case, while Labour has also been making positive noises about the prospect of the company making the capital its new home.