Home » China’s SHEIN set to raise $2 billion, eyes US IPO later this year -sources

China’s SHEIN set to raise $2 billion, eyes US IPO later this year -sources

by Dubaiforum

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HONG KONG : Chinese online fashion retailer SHEIN is set to raise around $2 billion in a new funding round this month and is aiming for a U.S. listing in the second half of this year, three people with knowledge of its plans told Reuters.

UAE’s sovereign wealth fund Mubadala is a major investor in this round as are existing investors, private equity firm General Atlantic (GA) and venture capital group Sequoia Capital China, said two of the people and a separate person with knowledge of the matter.

Tiger Global Management became a new investor, said the first two people.

SHEIN cut its valuation to $64 billion in this fundraising, down by a third from a funding round a year ago, according to six sources with knowledge of the matter.

The company last month held initial talks with several investment banks to pick lead bookrunners for the U.S. IPO, said two of the sources with direct knowledge of the plans.

DF

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