Markets

Analysis: Shein IPO will do little to shake troubled London Stock Exchange’s ‘second-rate’ status

Attracting the Chinese e-commerce giant would be a major boost to London’s exchange, but far from a panacea

Landing the Chinese retail giant Shein would be a boon for the London Stock Exchange but the feeling persists that it has lost much of its allure. Picture: Ore Huiying

The air may still be chilly in London, but to some in the City it feels like spring might just be around the corner.

At least, that was the feeling at the prospect of a Shein floatation on the capital's beleaguered stock exchange.

For months, the London Stock Exchange (LSE) has sought some sign that its fortunes may be on the mend as the Treasury and regulators sought ways to woo firms to list in London and plug a damaging exodus that has seen Ireland's own Flutter and Smurfit Kappa announce plans that could soon see them join those leaving the FTSE 100 index.