The Singapore-based company has not determined the size of the deal or the valuation at IPO.
The online fast-fashion retailer, which manufactures most of its merchandise in China, faces criticism that Uyghur forced labor is used to make its low-priced apparel and home goods.
Earlier this year, the congresswoman led a bipartisan call for the SEC to halt Shein’s IPO until it verifies that the company does not use forced labor within its supply chain.
Shein did not immediately respond to a request for comment, but the company has previously told Reuters it has “zero tolerance for forced labor” and has no contract manufacturers in Xinjiang.
Shein's IPO is "going to be raising issues (for the SEC) that may later be applied across the board to all China-based or China-related companies that are going public," Penick said.
Persons:
Chen Lin, Shein confidentially, Shein, Jennifer Wexton, Megan Penick, Robinson, Penick, Republican Sen, Marco Rubio, ”, Rubio, Chris Smith, Smith, ByteDance's TikTok, Group's, Katherine Masters, Arriana, Michael Martina, Marguerita Choy
Organizations:
REUTERS, Bloomberg, Beijing, U.S . Securities, Exchange Commission, SEC, Reuters, Reuters Graphics, Capitol Hill, Republican, Congressional, Commission, Oritain, U.S, Thomson
Locations:
Singapore, China, New York, U.S, Beijing, Washington, China's Xinjiang, Xinjiang, India