initial public offerings (IPOs) trading on American exchanges

Monday, November 27, 2023

Shein confidentially files for U.S. IPO

Shein has confidentially filed to go public in the U.S. as the Chinese-founded fast-fashion juggernaut looks to expand its global reach with a long-rumored initial public offering. 

The retailer was last valued at $66 billion and could be ready to start trading on the public markets as soon as 2024, people familiar with the matter said Monday.
  • Shein is headquartered in Singapore and was founded in Nanjing, China in 2008. 
  • In 2022, Shein was the world's largest fashion retailer with a value of $100 billion — more than fast-fashion predecessors H&M and Zara combined. 
  • Shein uses on-demand manufacturing to reduce inventory waste and deliver affordable products. 
  • It has been criticized for its labor practices and the role of fast fashion in pollution. 
  • Shein promotes clothes under $30, $20 or even $5, mostly made in China and shipped directly to shoppers.
Shein has faced a number of controversies, including: 
  • Design theft: Artists have filed a racketeering lawsuit accusing Shein of stealing designs.
  • Import tax laws: A congressional report says Shein abuses a loophole in import tax laws.
  • Forced labor: Lawmakers have called for an investigation into alleged use of forced labor  in Xinjiang.

A confidential filing is common, as it allows companies to communicate with the U.S. Securities and Exchange Commission and make any necessary adjustments to their filings in private. Over the next few months, Shein will likely make tweaks to its paperwork and answer numerous questions from the agency. The filing will be made public once the company is ready to move forward with its IPO. At that point, those communications with the SEC and any adjustments to its paperwork will be released as well.

Shein has been on a meteoric rise over the past few years after it won over consumers across the globe with its fashion-forward designs, endless assortment and dirt-cheap prices. But Shein has faced a series of challenges along the way and faced accusations of using forced labor in its supply chain, violating labor laws, harming the environment and stealing designs from independent artists.

The company is currently under investigation by the newly formed House Select Committee on the Chinese Communist Party and has faced scrutiny over its ties to Beijing. Numerous lawmakers, including 16 Republican attorneys general, have called on the SEC to ensure Shein isn’t using forced labor in its supply chain before it’s allowed to start trading in the U.S.

Friday, October 20, 2023

Chromocell Therapeutics Seeks $8.7 Million In Micro-IPO

  • Chromocell Therapeutics, a Phase 1 biotech developing a non-addictive pain blocker using a sodium ion channel
  • HQ North Brunswick, New Jersey
Chromocell Therapeutics Corporation has filed for an $8.7 million IPO to develop its treatment for chronic pain conditions.
The company's lead compound is being prepared for a Phase 2a study for erythromelalgia patients with a genetic component.
The global market for erythromelalgia treatment is estimated to reach $3.5 billion by 2032, driving potential growth for Chromocell.

Thursday, October 5, 2023

==Maison Solutions (MSS) began trading on the Nasdaq on Thur 5 Oct 23

Maison Solutions Inc. is a fast-growing specialty grocery retailer offering traditional Asian food and merchandise to modern U.S. consumers, particularly to members of Asian-American communities.

Tuesday, September 19, 2023

==Instacart (CART) began trading on the Nasdaq on Tue 19 Sept 23

Instacart priced 22.0 mln share IPO at $30.00 per share, at the high end of the revised $28-30 expected range.

Opened for trading at $42, ended the day about 20% below its opening price of $42 (33.70 +3.70)