Fast fashion giant Shein is gearing up to submit a prospectus to Britain's Financial Conduct Authority as it aims for approval for a potential IPO in London.

IPO Listing of Shein in London

According to Sky News, the listing could value the fashion retailer at approximately 50 billion pounds ($63.7 billion). Sources told the outlet that the confidential filing could occur as early as this week or later this month. 

Earlier this year, the Chinese-founded company began working with financial and legal advisors in London to eye a potential listing on the London Stock Exchange.

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Regulatory Challenges of Shein

Shein intensified its plans for a London IPO after encountering regulatory challenges and opposition from US lawmakers following its filing to go public in New York.

Some senior British lawmakers are also questioning Shein's eligibility for a London listing and urging more thorough scrutiny of the company. In response, Shein has announced efforts to improve its governance and compliance practices. 

READ MORE: Shein's Annual Revenue Is More Than $30 Billion, Key Retail Partner Says