6 Hrs
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الاقتصادية
Shein's rise before IPO
Shein is offering its shares for a public offering in Hong Kong instead of New York or London after failing to obtain approval from Chinese authorities to list in Western markets. This move follows intensive efforts to rebuild trust with Chinese regulators, as the company has emphasized that most of its operations and employees are based in China and considers itself a fundamentally Chinese company. Shein aims to raise $1.7 billion with a market value estimated at $26.5 billion, while strengthening its position as a major employer in China and a supporter of its economy. With its efforts to establish itself as a global company waning and facing accusations of money laundering, the company is now more reliant on the Chinese market and its role as a national champion amid growing trade tensions with the West.
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