By Julie Zhu and Anirban Sen
HONG KONG/NEW YORK (Reuters) – Fashion company Shein is seeking Beijing’s nod to go public in the U.S., two sources with knowledge of the matter said, a decision which could delay its float plans and comes despite efforts to distance itself from China.
The Singapore-based company, valued at $66 billion in a May fundraising according to one of the sources, filed with the Chinese regulator in November to comply with new listing rules for local firms, two sources with knowledge of the matter said.
Shein’s listing plans are likely not only to face tougher-than-expected scrutiny from U.S. regulators in an election year in the U.S., the sources said, but will also have to go through a lengthy approval process with numerous Chinese regulators.
Shein, which sells cheap fashion in over 150 countries, confidentially filed to go public in the United States in November and could launch its new share sale in 2024, in…
