Exclusive: China's Shein files for U.S. IPO

Exclusive: China's Shein files for U.S. IPO -sources

a year later amid Beijing's crackdown on Chinese technology giants over antitrust and data security rules.

Shein has confidentially submitted its IPO registration with the U.S. Securities and Exchange Commission , the sources said. The stock market debut could come before the end of 2023, the sources added.A spokesperson for Shein said by email that the company "denies these rumors." The spokesperson did not immediately respond to a request for further details. The SEC declined to comment.

Shein has been eyeing a U.S. IPO for at least three years, but was deterred by headwinds that included U.S. scrutiny of Chinese accounting practices and bouts of market volatility fueled by the COVID-19 pandemic and Russia's war in Ukraine. The company's founder Chris Xu moved the company's headquarters to Singapore from Nanjing, capital of China's eastern Jiangsu province, more than a year ago, a move that helps Shein circumvent China's tough new rules on overseas listings.Our Standards:

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