- Shein yet to determine IPO size, valued at over $60 bln in May
- IPO comes amid challenging markets and U.S. scrutiny
- Fast-fashion retailers still behind Amazon on sales
Nov 27 (Reuters) – Fashion company Shein has confidentially filed to go public in the United States, according to two sources familiar with the matter, in what is likely to be one of the most valuable China-founded companies to list in New York.
Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the initial public offering (IPO), and Singapore-based Shein could launch its new share sale some time in 2024, the sources said.
Shein has not determined the size of the deal or the valuation at IPO, the sources said. Bloomberg reported earlier this month it targeted up to $90 billion in the float.
Shein and the banks declined to comment.
The company founded in mainland China in 2012 was valued…
