Shein is aiming for a valuation of almost $27bn in its stock market debut, according to a current vice-president of the company.
The long-awaited move comes after earlier attempts to list in the US and London stalled amid regulatory challenges and scrutiny of the firm.
The online fashion retailer has grown rapidly over the past decade, building a global customer base with low prices and a constant stream of new products.
“The business is clearly big enough to list. The question investors will ask is whether the scrutiny has been fully priced in.”
Its expansion has also attracted questions from regulators, campaigners and politicians, particularly over supply chain practices and the environmental impact of fast fashion.
The company has said it takes these concerns seriously and has pointed to steps it says it has taken to improve oversight of its suppliers.
The targeted valuation would be lower than figures reported during earlier private funding rounds, reflecting a more cautious market for consumer technology and retail listings.
Analysts say investor appetite will depend on the company's ability to maintain growth while addressing governance and transparency concerns.
A successful listing would be one of the most significant retail flotations in recent years and could test confidence in fast-growing e-commerce businesses.
The company sells to customers in many countries, primarily through its app and website. Its rise has been powered by data-driven production, in which small batches of items are tested and then scaled up quickly if they prove popular. Competitors and some policymakers have also questioned rules that allow low-value parcels to enter certain markets without import duties.
The timing of the debut has not been confirmed, and the final valuation will depend on demand from investors.
