Is Shein about to go public?

According to Bof, Shein, the $60 billion-plus Chinese ultra-fast fashion giant currently under scrutiny by US regulators for its labor practices, has filed with regulators for an initial public offering in New York. A somewhat unexpected decision that would make Shein the most valuable Chinese company listed on a US stock exchange since ride-hailing giant Didi Global, which had an initial valuation of $68 billion in 2021. A year later, Didi was delisted in New York as Beijing cracked down on Chinese tech giants over antitrust and data privacy regulations.

According to anonymous sources reported by Bof, Shein has confidentially filed for IPO registration with the US Securities and Exchange Commission (SEC). The IPO could take place by the end of 2023, the sources added, while a company representative said via e-mail that Shein "denies the rumors". We will just have to wait and see if the speculation is true and how this will affect the growing tensions between the US and China over trade, sensitive technologies, human rights, and the future of Taiwan.