Shein yet to determine IPO size, valued at over 60 bln in May
IPO comes amid challenging markets and U.S. scrutiny
Fastfashion retailers still behind Amazon on sales

Nov 27 Reuters Fashion company Shein has confidentially filed to go public in the United States, according to two sources familiar with the matter, in what is likely to be one of the most valuable Chinafounded companies to list in New York.

Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the initial public offering IPO, and Singaporebased Shein could launch its new share sale some time in 2024, the sources said.

Shein has not determined the size of the deal or the valuation at IPO, the sources said. Bloomberg reported earlier this month it targeted up to 90 billion in the float.

Shein and the banks declined to comment.

The company founded in mainland China in 2012 was valued at more than 60 billion in a May fundraising, down by a third from a funding round last year.

The most valuable Chinafounded enterprise to go public in the United States so far is ridehailing giant Didi Global39;s debut in 2021 at 68 billion valuation.

The fastfashion giant39;s move to go public in the U.S. comes as the market for initial public offerings is struggling to rebound after a string of lacklustre stock market debuts.

In recent months there were four major IPOs, and three of them disappointed investors.

Shares of German sandalmaker Birkenstock, grocery delivery app Instacart…