Fast-fashion giant Shein is understood to be gearing up for a stock market float in the US as it reportedly filed “confidential paperwork” for an initial public offering.
The company is said to have filed paperwork with the US securities regulator, according to two people familiar with the matter, as reported by the Financial Times and The Wall Street Journal.
Shein has drafted JP Morgan, Morgan Stanley and Goldman Sachs to advise on the IPO, which is anticipated to be one of the largest offerings of the decade if confirmed.
The reports follow speculation earlier this year that the firm was planning to go public on the New York Stock Exchange in 2024 after it predicted its revenue will more than double to reach $60bn (£49.8bn) by 2025.
Shein told investors earlier this month it is hoping for a valuation of up to $90bn (£71.3bn) in a listing, according to Bloomberg.
Shein was founded by Chinese billionaire Chris Xu in 2008 and is now backed by investors including Abu Dhabi sovereign wealth fund Mubadala, venture capital group Sequoia China and private equity group General Atlantic.
Shein, JP Morgan, Morgan Stanley and Goldman Sachs would not comment.