Search
  • Ernie Diaz

Shein-ing Us On

Barely a week after we point out Shein as a shining example of squaring away your China IP, before it becomes China's IP. Now they're rumored to be prepping for an IPO worth a record-breaking $47b.

The big numbers don't preclude the usual pre-IPO antics. "No, no IPO planned, let's do another private round." But where there's smoke, there's fire, and where there are private secondary sharks, there is pre-IPO blood.

"Judging by the number of calls we're getting for blocks of Shein all of a sudden, it's hard to imagine that an IPO is not in the offing," says Edward Lehman. "The concern is the valuation, not to mention the potential of another stutter step such as Bytedance's. Traditional private shares investors would deem these issues significant, requiring careful consideration and research. And that's exactly why traditional investors are missing out on these blocks (of available shares). I would call it 'irrational exuberance', but then the markets in general don't seem to be driven by anything traditionally rational."

3 views0 comments

Recent Posts

See All

Let's tick off all China's bad news, before getting to the good news. Good news, that is, for investors looking to diversify their global portfolios. Not so good for Gordon Chang and other patient app

Like Hollywood, the western press is invested in narratives and emotional manipulation. Unlike Hollywood, that press has no compunction about skipping the third act of a story, if it doesn't fit that

Politics makes shortchanged bedfellows. As we've written before and will no doubt write again, the paradigm that China stocks = the VIEs of giant tech companies that make it to New York is keeping ave