June 2 (Reuters) - Online fashion firm Shein is

preparing to file a prospectus with Britain's Financial Conduct

Authority for approval ahead of a potential London float which

could value it around 50 billion pounds ($63.70 billion), Sky

News reported on Sunday.

The confidential filing could take place as soon as the

coming week, the report added, citing sources.

Chinese-founded Shein did not immediately respond to a

Reuters request for comment.

Shein, valued at $66 billion in a fundraising last year,

started engaging with the London-based teams of its financial

and legal advisors to explore a listing on the London Stock

Exchange early this year, sources told Reuters in May.

The fast-fashion company stepped up preparations for its

London listing after its attempt to float itself in New York

faced regulatory hurdles and pushback from U.S. lawmakers.

However, senior British lawmakers are also questioning

Shein's suitability for a London listing and calling for greater

scrutiny of the business. Shein, in response, has said it is

strengthening governance and compliance.

($1 = 0.7850 pounds)

(Reporting by Akanksha Khushi in Bengaluru; Editing by Ros

Russell)