Chancellor Jeremy Hunt held talks with Shein boss Donald Tang to try to persuade the Chinese fast-fashion giant to float on the London Stock Exchange, Sky News has reported. 

Hunt met Shein executive chair Tang earlier this month as part of British regulators’ and government officials’ efforts to persuade the company to explore a public listing in the UK after uncertainty around its US IPO.

An insider told Sky News that Hunt and Tang had held “productive” discussions about a float that could be essential in bringing life back to the London Stock Exchange.

Shein could become the London Stock Exchange’s second-largest IPO in history after the 2011 stock market debut of Glencore International, the commodities trading and mining group, a capital markets banker said.

The news comes after Tang reportedly met executives from the exchange during a visit to London in December 2023 and “held talks” about a potential float.

City sources said discussions involved a potential UK listing, adding that Shein was also “continuing to explore various options for raising capital through a public share sale”.

Shein and the Treasury have not commented on the reports.