Shein is seeking approval from a Chinese regulator to go public in America.
The online fast fashion giant based in Singapore filed with the regulator back in November to comply with new listing rules for local firms, Reuters reports.
However the IPO may be delayed by the decision the Chinese regulator may make, not only due to stricter-than-expected scrutiny from US regulators, but the business also has to go through a lengthy approval process with numerous Chinese regulators.
Shein submitted an application to US regulators in November for an IPO in 2024, for which it is hoping to secure a valuation of $90bn.
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Last December, city sources revealed Shein was also in talks with the London Stock Exchange about the possibility of UK listing.
The retailer’s executive chair Donald Tang is said to have met the exchange’s executives about a potential flotation.
Sources told Sky News that Shein were also exploring various options for raising capital through a public share sale.
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