Shein Seeks China's Permission For U.S. IPO

Shein is seeking approval from Beijing to go public in the U.S., according to sources familiar with the matter.

Shein filed its planned U.S. IPO with the Chinese regulator in November, as per one of the sources. I Photo: SHEIN CHILE Facebook

This highlights the challenges the fashion company faces in presenting itself as a global entity rather than solely a Chinese company.

Julie Zhu and Anirban Sen reported for Reuters that Shein's listing plans have encountered political opposition in the U.S. A bipartisan group of U.S. lawmakers has urged the Securities and Exchange Commission (SEC) to halt Shein's initial public offering until it confirms it does not engage in forced labor.

Despite relocating its headquarters from Nanjing to Singapore in 2022, Shein filed its planned U.S. IPO with the Chinese regulator in November, as per one of the sources.

The company, valued at $66 billion in a May fundraising round, also confidentially filed with the SEC for the IPO in November. However, the SEC has yet to respond to Shein's IPO filing, indicating potential challenges in the application process.

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