Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of clues from Rain and Snow and Mr. Aviation! CTOnews.com, June 30 (Xinhua)-- Chinese online fashion ecommerce SHEIN has applied to regulators for an initial public offering (IPO) in New York, a person familiar with the matter recently told Reuters. The IPO could make SHEIN the most valuable Chinese company listed in the United States in the past two years.

▲ Touyuan SHEIN official push source said that SHEIN has secretly submitted an application for registration of IPO to the US Securities and Exchange Commission (SEC), and said the company may seek a formal listing by the end of 2023. The source spoke on condition of anonymity because the matter was classified.

A spokesman for SHEIN said by email that the company "denied the rumors" but did not immediately respond to a request for more details, and the Securities and Exchange Commission declined to comment.

SHEIN was valued at more than $60 billion (currently about 435 billion yuan) in a $2 billion round of private financing in March (CTOnews.com Note: currently about 14.5 billion yuan). Pan-Atlantic Investment Group, Sequoia Capital and others are all investors in the company.

Sources said that the company has been seeking to conduct IPO in the United States for three years, but multiple adverse factors such as internal and external environment have delayed its IPO plan. In order to expand the international market and economic factors, SHEIN headquarters moved from Nanjing, China to Singapore in 2019.

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