SEC yet to respond in writing to Shein on IPO filing, WSJ reports

The Securities and Exchange Commission has yet to respond in writing to China-founded Shein, which is now based in Singapore, two months after the fast-fashion retailer confidentially filed for a U.S. initial public offering, though the reasons for the SEC’s silence aren’t clear and the delay is “highly unusual,” said The Wall Street Journal’s Shen Lu, Corrie Driebusch and Rebecca Feng, citing sources. Shein’s application represents the first big test of how U.S. and Chinese regulators will view a U.S. listing of a high-profile company with roots in China since the ill-fated IPO of ride-hailing giant Didi Global in 2021, the report noted. Other U.S.-listed companies with roots or primary operations in China include Alibaba (BABA), JD.com (JD), Baidu (BIDU) and PDD (PPD).