Shein prepares for IPO

 

Shein is raising $2B in preparation for an IPO.   The Chinese online fashion giant is aiming for a listing in the U.S., reports Reuters citing people familiar with the matter. Shein is receiving investment from The United Arab Emirates' sovereign wealth fund, Mubadala. Other participants in the funding round include Sequoia Capital China and private equity firm General Atlantic (GA). Shein valued itself at $64B in its current fundraising round, down about one-third from a year ago. Despite the sharp drop in value, the Chinese company remains one of the largest online fashion marketplaces in the world.  If Shein manages to go public, it will mark one of the biggest flotations this year worldwide.