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China-founded Shein targets US$90 billion valuation in US IPO: sources – South China Morning Post

China-founded Shein targets US$90 billion valuation in US IPO: sources – South China Morning Post

Shein is touting its hopes for a valuation of as much as US$90 billion as it lays the groundwork for an eventual US initial public offering (IPO), a level that far exceeds how the fast-fashion giant is valued in private trades, according to people familiar with the matter.The company has told prospective investors that it is aiming to fetch a valuation of US$80 billion to US$90 billion in a listing, the people said. The timing of the share sale remains uncertain given the market volatility, according to the people.In private trades, Shein’s valuation has dropped below the US$66 billion it got in a funding round in May, the people said. Stakes that have recently changed hands in the secondary market valued the company at around US$50 billion to US$60 billion, the people said.While valuation in private trades does not necessarily reflect the company’s actual valuation, the gap underlines investor concerns over Shein’s challenges ranging from intensifying competition to allegations of copyright thefts and potential use of forced labour. It may also complicate Shein’s ambitions for a blockbuster listing.The Shein headquarters in Singapore. Photo: BloombergShein was the world’s third-most-valuable start-up in 2022, when a funding round valued the company at $100 billion.… 

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