Singapore-based online fast fashion retailer Shein is striving for a London IPO in the first half of this year, according to Reuters.

Thursday's report cited sources as saying Shein aims to list in London in the first half of this year, provided it gets regulatory approval for its initial public offering (IPO).

Shein's IPO could be completed as early as Easter (April 20), a person familiar with the matter said.

British Chancellor of the Exchequer Rachel Reeves will embark on a trip to China on Saturday, during which she will meet with Vice Premier He Lifeng to discuss economic and financial cooperation.

Sources close to the matter pointed out that Reeves' visit could help push forward the regulatory approvals needed for Shein.

Nikhil Rathi, chief executive of the U.K.'s Financial Conduct Authority (FCA), which is responsible for evaluating and approving listing cases, will accompany Reeves on her visit to Beijing and Shanghai and meet with local regulatory partners.

Shein was founded in Nanjing in 2012 and moved its headquarters to Singapore in 2022.

But since most of its 5,800 contract manufacturers are based in China, it will also need to obtain permission from the China Securities Regulatory Commission (CSRC) for its London IPO.

This Chinese securities regulator adopted new rules in 2023 that allow it to review and potentially block offshore listings.