Shein denies filing for IPO in US

Shein, a fast-fashion brand with a market valuation of $64 billion, denied a Reuters report that it has filed for a United States initial public offering.

Reuters said in a report that Shein has confidentially submitted its IPO registration with the US Securities and Exchange Commission and could debut the stock market before the end of 2023.

The Chinese company told China Daily that it denied these rumors.

With its rumored IPO plans, Shein could become one of the most valuable Chinese companies to go public in the US, after ride-hailing giant Didi Chuxing.