Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, and Shein could go public sometime in 2024, the sources said.
Shein has been planning to go public for the last few years, but halted plans almost twice since then.
The fast-fashion giant's decision now comes at a time when the broader market for new issues remains laggard.
Fast fashion retailers have been gaining popularity in the United States, with Shein taking away market share from the likes Gap (GPS.N) as shoppers look for fresher styles and trendier clothing.
Shein's confidential IPO was first reported by the Wall Street Journal earlier on Monday.
Persons:
David, Dee, Delgado, Shein, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Didi Global's, Simon Property, Pritam Biswas, Ananya Mariam Rajesh, Anirban Sen, Rishabh Jaiswal, Arun Koyyur, Sherry Jacob, Phillips
Organizations:
REUTERS, Reuters, JPMorgan, chipmaker Arm Holdings, New York Stock Exchange, Nasdaq, SPARC Group, Forever, Brands, Simon, Wall Street, Thomson
Locations:
New York City, U.S, China, United States, Singapore, Bengaluru, New York