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Fast fashion brand Shein’s plan to take the firm public on the US stock exchange may be delayed after it applied for approval from a Chinese regulator, according to reports from Reuters.
The IPO may be delayed as a result of the potential decision the Chinese regulator may make, with the business set to go through a lengthy approval process with numerous Chinese regulators. Shein is also set to face stricter-than-expected scrutiny from US regulators.
The Singapore-based business filed with the regulator in November to comply with new listing rules for local firms.
The company submitted an application for an IPO in the US in November and is looking for an initial valuation of $90bn (£70.7bn).
It was also revealed in December that the company was looking into a listing on the London Stock Exchange.
Retail Sector has approached Shein for comment.
