Analysts at Goldman Sachs initiated coverage on investment manager M&G with a 'buy' rating and 240.0p target price on Tuesday, stating it had "attractive growth, capital returns, and valuation".
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Financial details of the deal were not disclosed but Frasers said the transaction had enabled "exciting discussions" with Shein regarding opportunities for potential collaboration across its brand portfolio.
Retail conglomerate Frasers Group has sold the Missguided fast-fashion brand to Shein and hinted a further potential collaborations with the Chinese ecommerce giant – which analysts say could represent a "transformational milestone" for the British company.