Online retailer Shein to hold roadshows soon ahead of London IPO, Reuters reports

Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering, three sources with knowledge of the matter said, pushing ahead with preparations as it awaits U.K. regulatory approval.

The China-founded online retailer plans to hold informal roadshows mainly across Europe, one of the sources said, during which an IPO-bound company fields large investors' questions and tests their investment appetite.

The sources declined to be identified as they were not authorized to speak to the media.

A spokesperson for Singapore-headquartered Shein declined to comment.

Shein confidentially filed papers with Britain's markets regulator in early June, kicking off the process for a potential London listing by the company later in the year, Reuters reported in June, citing sources.

The company, valued at $66 billion last year during a fundraising round, began considering a London IPO earlier this year after its initial New York plan came unstuck following opposition from U.S. lawmakers.

Shein is working towards launching the float in the current quarter, subject to it getting the approval from Britain's markets watchdog, the Financial Conduct Authority, a separate source familiar with the matter said.

As Shein, known for its $5 tops and $10 dresses, moves towards its market debut, its treatment of workers and environmental record has come under increased scrutiny.

The fast-growing company's ability to convince large global institutional investors of the soundness of its business case and financial health will determine whether it is able to match the $66 billion valuation it achieved last year.

Shein's preparations for a potential London listing marks a shift from its long-running U.S. IPO plan,