Boohoo, also trading as Debenhams, may sell its PLT (PrettyLittleThing) brand for up to £200 million, according to analysts Wayne Brown and Anubhav Malhotra of Panmure Liberum. The analysts suggest Shein as a potential buyer.

PLT’s potential sale price could be double its current estimated value within the group, which they put at £100 million. Boohoo announced in August that it was exploring options to offload the youth-focused PLT brand.

The analysts also noted that valuing Boohoo’s businesses separately indicates the group could be worth three times its £162 million market capitalization. Following the news, Boohoo shares rose 43% to 16.6 pence, reaching their highest level since August.