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.
DISCLOSURE: All our E.F team members come from an investment background. Apart from writing articles about companies, investments and financial instruments, we also invest in most of them. Please read our terms of use for more details.
+ There are no comments
Add yours