China's SHEIN Plans To Raise $2B In Fresh Funding; Eyes US IPO: Report

by Shivani Kumaresan, Benzinga Staff Writer

March 9, 2023 5:56 AM | 1 min read |

Chinese online fashion retailer SHEIN reportedly plans to raise about $2 billion in a fresh funding this month.
The company is also eyeing a U.S. listing in the second half of 2023, reported Reuters.
Sovereign wealth fund Mubadala, based in the United Arab Emirates, is a large investor in the funding round, while Tiger Global Management will be a new investor.
Existing investors, private equity firm General Atlantic (GA), and venture capital group Sequoia Capital China will also be a part of the funding.
The retailer has cut its valuation by a third to $64 billion, from last year’s funding round.
The report also added that SHEIN has held talks with many investment banks to select the lead bookrunners for its U.S. IPO.