Shein Seeks to Go Public in US IPO

Estimated read time 1 min read

Chinese fast-fashion company Shein has submitted an initial public offering (IPO) application to a securities regulator in the United States. The company, which was recently valued at $66 billion, may start trading on public market as early as 2024. Shein hopes to be valued at roughly $90 billion. Shein has retained Goldman Sachs, Morgan Stanley, and JPMorgan Chase to provide it with IPO advice. Major investors in the company include Sequoia China, a venture capital firm, General Atlantic, and Mubadala, the sovereign wealth fund of Abu Dhabi.

By 2025, Shein wants to grow its sales from $22.7 billion to $58.5 billion. After a dismal two years, the filing might help the IPO market pick up steam. Established in 2012 by Xu Yangtian, a Chinese billionaire, Shein has evolved from a rapidly developing enterprise in Asia’s largest economy to a multinational corporation with an emphasis on global expansion.

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E.F Team https://eastern.finance

Our team at Eastern Finance is made up of young and knowledgeable professionals who are here to provide you with business news from an eastern perspective.

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