Shein set to raise US$2bil, eyes US IPO later this year

The flotation, if successful, would be one of the biggest worldwide this year and a test of US investor appetite for Chinese companies amid volatile capital markets and geopolitical tensions. — Bloomberg

HONG KONG: Chinese online fashion retailer Shein is set to raise around US$2bil (RM9bil) in a new funding round this month and is aiming for a US listing in the second half of this year, three people with knowledge of its plans told Reuters.

The United Arab Emirates’ 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.