Home Markets China’s Shein shelves U.S IPO plan again due to uncertain markets -sources

China’s Shein shelves U.S IPO plan again due to uncertain markets -sources

9

A keyboard and a shopping cart are seen in front of a displayed Shein logo in this illustration picture taken October 13, 2020. REUTERS/Dado Ruvic/Illustration

Register now for FREE unlimited access to Reuters.com

SYDNEY, Feb 25 (Reuters) – Chinese fashion retailer Shein’s plan to list in the United States has been put on hold due to volatile capital markets amid Russia’s attack on Ukraine, said two sources with direct knowledge of the matter.

Reuters reported last month that Shein had revived plans to list in New York this year and its founder was considering a citizenship change to bypass proposed tougher rules for offshore initial public offerings (IPOs) in China. read more

The stock market debut plan has now been put on hold for the second time as a result of the sharp markets volatility over the past month that has been exacerbated in recent days by the invasion of Ukraine, said the sources.

Register now for FREE unlimited access to…

Click here for full article…www.reuters.com