The firm said it "decided to postpone our IPO to focus on our core business."
WeWork is officially pulling its public offering.
The firm’s co-CEOs, Artie Minson and Sebastian Gunningham, said in a statement that WeWork “decided to postpone our IPO to focus on our core business.”
“We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future,” the statement said.
Last month, the firm’s S-1 filing to the U.S. Securities and Exchange Commission set off a firestorm among investors and observers after it laid bare the company’s precarious financial position, including the fact that its growing losses were double revenue. It also included information about questionable loans and transactions with its charismatic CEO Adam Neumann....
The firm’s co-CEOs, Artie Minson and Sebastian Gunningham, said in a statement that WeWork “decided to postpone our IPO to focus on our core business.”
“We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future,” the statement said.
Last month, the firm’s S-1 filing to the U.S. Securities and Exchange Commission set off a firestorm among investors and observers after it laid bare the company’s precarious financial position, including the fact that its growing losses were double revenue. It also included information about questionable loans and transactions with its charismatic CEO Adam Neumann....
RSK: Smartest move they have made in a long time. We all saw this coming.
Ken Notes: Smart in that they would have seen their value fall from the onset. Co-working is popular and a good, for many, idea. Making money on an international level is a little more difficult. IWG plc. (i.e. Regus and several other holdings) has businesses in 106 countries and has bee around since 1989. The stock also has appreciated on the Gibraltar Blockchain Exchange -- whatever that is...
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- - Volume: 7 - WEEK: 40 Date: 9/30/2019 4:16:32 PM -