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Shein filed papers for London listing in early June - Reuters

Investing.com -- Online fast fashion group Shein confidentially filed papers with Britain's markets regulator in early June to begin the process for a potential listing in London later this year, according to Reuters.

Citing two unnamed sources with knowledge of the deal, Reuters added that Shein has told China's securities regulator about its plans to change its listing venue. However, Reuters reported that officials in China have to sign off on the switch.

Shein, which was founded in China and has been valued at $66 billion, first began exploring a London listing earlier this year, Reuters said. Its prior plans to list in New York were scrapped after the move received backlash from U.S. lawmakers.

A spokesperson for the company as well as a spokesperson for the British markets watchdog both declined to comment, Reuters said.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.