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Shein will rank among the costliest Chinese public businesses to list on a US exchange if the IPO is successful. The current one is Didi Global, a taxi company, which raised $4.4 billion when it went public in 2021 and was valued at $68 billion.
However, in June 2022, Didi was compelled to depart the New York Stock Exchange due to pressure from Chinese authorities on the nation's tech titans.
Prior to this, a group of US Congressmen from both parties urged the SEC to halt plans for Shein shares' initial public offering. The congressmen contend that it is first imperative to guarantee that Shein, the global retailer of designer apparel, does not employ Uighur enslaved labor.
source: reuters.com
However, in June 2022, Didi was compelled to depart the New York Stock Exchange due to pressure from Chinese authorities on the nation's tech titans.
Prior to this, a group of US Congressmen from both parties urged the SEC to halt plans for Shein shares' initial public offering. The congressmen contend that it is first imperative to guarantee that Shein, the global retailer of designer apparel, does not employ Uighur enslaved labor.
source: reuters.com
