- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
