Shein ‘considering plans’ for New York listing

Shein is considering plans to list on the New York Stock Exchange (NYSE), according to sources reported by Reuters.

The sources did not say how the much the Chinese online retailer was looking to raise.

Shein’s founder, entrepreneur Chris Xu, is considering applying for Singaporean citizenship to bypass restrictions on Chinese companies listing in foreign markets according to the news organisation’s sources.

The online retailer was founded in 2008 in Nanjing, China and made an estimated $10 billion in 2020 according to an estimate by Coresight Research.

However, a Shein spokesperson told Reuters it had no plans to go public.

The news comes after Chinese regulators proposed stricter rules for Chinese firms listing offshore in December 2021.

JD Logistics - an offshoot of one of China’s largest e-commerce companies JD.com – raised around $3.4 billion in a Hong Kong listing that saw it float 10 per cent of its shares.

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