A Shein Group Ltd. pop-up store inside a Forever-21 store in the Times Square neighborhood of New York, US, on Friday, Nov. 10, 2023. Yuki Iwamura | Bloomberg | Getty Images
Chinese-founded fast fashion juggernaut Shein has confidentially filed to go public in the U.S. and is moving forward with its long-rumored IPO, CNBC has learned.
The retailer was last valued at $66 billion, and could be ready to start trading on the public markets as soon as 2024, people familiar with the matter said Monday.
It is unclear how much the company is currently worth. But its valuation has been a central point of debate among Shein and the advisors it's working with, people familiar with the matter said.
Shein has tapped Goldman Sachs, JPMorgan and Morgan Stanley to be the lead underwriters on the offering, the people said.
Shein declined to comment. Neither Goldman Sachs nor JPMorgan commented. Morgan Stanley didn't immediately return a request for comment.
Earlier on Monday, Chinese media reported on Shein's filing.
This is breaking news. Please check back for updates.
News Related-
AI chip boom fuels MediaTek’s 40% rally, beating Qualcomm and peers
-
Singtel is next S’pore stock to be traded on Thailand bourse under depository receipt linkage scheme
-
Chinese Swimming Club renews lease of Amber Road site for another 30 years
-
Cyber Monday forecast boosted after record online holiday sales
-
WealthBT Podcast: Powering up philanthropy for climate goals
-
US stocks pull back after weeks of gains
-
Former Binance CEO Zhao Changpeng must stay in US for now, judge says
-
Sports Illustrated scrubs AI-generated content after being called out for using deep fakes
-
Climate finance: UK-based standard setter VCMI’s introduction of flexibility to carbon credits market could unleash demand, much-needed investment
-
Fast-fashion giant Shein could be next blockbuster IPO after filing to go public: report
-
New York's cannabis board votes to settle lawsuits that have stalled legal dispensaries
-
CK Hutchison-backed HutchMed eyes global expansion after FDA approval for novel cancer drug
-
Cyber Monday sales set to reach $12.4 billion thanks to deal-hunters
-
Texas' new power grid problem