Chinese online fashion brand Shein has revived its plans to list in the US this year despite increased regulatory scrutiny from China on non-domestic listings, reports the South China Morning Post. According to two people familiar with the matter, the company’s founder is considering a citizenship change to get around the tougher rules.
It was not immediately clear how much the company was looking to raise from its New York debut. The initial public offering, if finalized, would be the first major equity deal by a Chinese company in the United States since regulators in the world’s second-largest economy stepped in to tighten oversight of such listings in July.
Shein, founded by Chinese entrepreneur Chris Xu in 2008, first started preparing for a US IPO about two years ago, but shelved the plan partly due to unpredictable markets amid rising US-China tensions, the sources said.