Chinese Giant Shein to Go Public in US, Ready For IPO

Chinese Giant Shein to Go Public in US, Ready For IPO

Washington DC: Fast fashion giant Shein has applied to go public in the United States. The company tried to make no noise about the move but could not escape the eyes of the public.

According to some experts, this could be the biggest IPO after the pandemic. Chinese media also has eyes on this move.

The underwriting of the proposal is handed to some of the prestigious banks like JP Morgan Chase and Morgan Stanley. Shein was valued at $66 billion earlier this year, and the company’s public debut in the US could cause quite a stir on Wall Street.

Shein was founded in China in 2008 and is headquartered in Singapore. The social media presence is the greatest factor that contributed to the success of the brand. Shein has come under fire from human rights and environmental activists for allegedly encouraging overconsumption, hiding production processes, and abusing unpaid labor.

The IPO listing will probably go live in 2024. The company made a confidential move with the US Securities and Exchange Commission.

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