Shein is a hot topic among traders on Tuesday as reports claim that the fast fashion company is preparing for an initial public offering () as soon as next year.
Shein mainly operates in Asia but has been expanding over the last year to reach customers around the world. It seems this was part of its plan for an IPO and could lead to a major valuation for the fashion company.
Let’s get into everything investors need to know about the Shein IPO reports below!
Shein IPO News
- Recent reports claim that Shein has filed a confidential IPO.
- They also claim that the company has secured Goldman Sachs, JPMorgan and Morgan Stanley as lead underwriters for the offering.
- The exact details of the filing are still unknown due to its confidential nature but should be made known to the public in the coming months.
- It’s also worth mentioning that the House Select Committee on the Chinese Communist Party is currently monitoring the company.
- This is due to its ties to China, as it was originally founded and operated there before moving its headquarters to Singapore.
- Shein was last valued at $66 billion in March and is likely to be valued for even more during the IPO.
- Potential investors will also note that it reported revenue of $23 billion and net profits of $800 million in 2022.
Outside of the Shein IPO talk, there’s plenty of other stock market news that traders will want to know about on Tuesday!
Luckily, we have them covered with our latest stock market news for today! Among that is what has stocks down today, as well as why shares of SenesTech (NASDAQ:SNES) and Tharimmune (NASDAQ:THAR) stock are falling. You can check out all of that at the links below!
More Tuesday Stock Market News
- Why Are Stocks Down Today?
- Why Is SenesTech (SNES) Stock Down 36% Today?
- Why Is Tharimmune (THAR) Stock Down 70% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.