Sources report that China's Shein has once again put its plans for a U.S. IPO on hold due to market uncertainty.

• The plan of Chinese fashion retailer Shein to list in the United States has been delayed due to unstable capital markets resulting from Russia's invasion of Ukraine, according to two sources with inside information.
• Last month, Reuters reported that Shein had rekindled plans to go public in New York this year and its founder was mulling over changing his citizenship to avoid stricter regulations on offshore IPOs in China.
• The stock market debut plan has been put on hold for the second time due to the sharp market volatility over the past month, which has been intensified by the invasion of Ukraine, according to sources.

The plan of Chinese fashion retailer Shein to list in the United States has been delayed due to unstable capital markets resulting from Russia's invasion of Ukraine, according to two sources with inside information.

Last month, Reuters reported that Shein had rekindled plans to go public in New York this year and its founder was mulling over changing his citizenship to avoid stricter regulations on offshore IPOs in China.

The stock market debut plan has been put on hold for the second time due to the sharp market volatility over the past month, which has been intensified by the invasion of Ukraine, according to sources.

Overnight, investors reassessed their risk appetite after initial losses earlier on Thursday, considering the long-term consequences of Western sanctions on Russia following its military action in Ukraine.

But some analysts worry any rallies might be fleeting.

The company is financially stable, a source stated, and it is unwilling to jeopardize its reputation by pursuing a deal in unpredictable market conditions.

The company has not yet decided if it will revive its listing plans later this year, according to the source.

Shein has no plans for an IPO, a company spokesperson said.

The sources, who were not authorized to speak to the media, declined to provide information.

Since its launch in 2008 in Nanjing, Shein has expanded globally and is now one of the world's largest online fashion marketplaces catering to international consumers, with the United States being its largest market.

The company, valued at approximately $50 billion in early 2021, manufactures clothing in China for online sales in the US, Europe, and Asia, but does not sell in China.

Two years ago, the company began preparing for a U.S. IPO, but later abandoned the plan due to unstable markets and increasing tensions between the U.S. and China, sources claimed.

The amount the company aimed to raise during its New York debut was unclear.

Since July, when regulators in the world's second-largest economy tightened oversight of U.S. equity listings by Chinese companies, the planned IPO would have been the first major U.S. equity deal by a Chinese company.

Last month, Reuters reported that Chris Xu, the founder of Shein, was considering obtaining Singapore citizenship as part of the IPO process in order to avoid China's new and strict regulations on overseas listings.

Reuters reported last week that the company, which has become one of the world’s largest fast fashion marketplaces by targeting the social media-savvy “Gen Z” generation, has also been aggressively expanding its Singapore office.