Shein's American IPO facing possible delays due to Chinese regulator application

Chinese fast fashion giant Shein is applying to China's regulator to enter the US stock market, two sources told Reuters. Shein has been planning a US IPO since June 2023.

The IPO may be delayed by the decision the Chinese regulator may make. This is not only due to stricter-than-expected scrutiny from US regulators, but the company also has to go through a lengthy approval process with several Chinese regulators, the media outlet noted.

Shein submitted an application to US regulators in November for an IPO in 2024, for which it is hoping to secure a valuation of 90 billion dollars.

Now it appears that Shein also filed an application with the China Securities Regulatory Commission (CSRC) in the same month. As a result, the fast fashion giant must also comply with Beijing's new listing rules for Chinese companies going public offshore, Reuters reported.