NEW YORK : China-founded online retailer Shein is working with at least three investment banks about a potential U.S. initial public offering, and has been in talks with the New York Stock Exchange and Nasdaq, people familiar with the matter said.Goldman Sachs, Morgan Stanley and JPMorgan Chase are among
NEW YORK : China-founded online retailer Shein is working with at least three investment banks about a potential U.S. initial public offering, and has been in talks with the New York Stock Exchange and Nasdaq, people familiar with the matter said.
Most recently valued at more than $60 billion, Shein could become the most valuable China-founded company to go public in the United States since ride-hailing giant Didi Global's debut in 2021 at a $68 billion valuation. Didi was delisted from the New York Stock Exchange a year later amid Beijing's crackdown on Chinese technology giants over antitrust and data security rules.
Last week, Reuters reported that Shein had filed its IPO registration confidentially with the U.S. Securities and Exchange Commission. After the story was published, Shein said it"denies these rumors", without elaborating. Three people familiar with the matter subsequently told Reuters that an IPO filing has not been submitted to the SEC.Shein, which was launched in China in 2012, has been eyeing a U.S.
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