Although Shein has increased the lobbying budget over the past 18 months, a future I.P.O. in Wall Street has been delayed. On both sides of the Pacific, the group is the subject of compliance investigations, amid a backdrop of tension between the U.S.A. and China.
After filing a confidential I.P.O. application with the U.S. SEC in November 2023, Shein (valued at US$66 billion at the last fundraising in 2023) has still not received a response. This is an unusual delay. The securities regulator officially responds within 30 calendar days, as a general rule.
According to the Wall Street Journal, this delay is linked to the current investigation by the Congressional Committee into Shein’s working practices and the origin of cotton products. Some US...
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