WeWork value shrinks even further without an IPO LiamWardProud
WeWork owner The We Company on Sept. 16 said it expected to complete its initial public offering this year, effectively postponing an IPO previously expected this month.
The U.S. office-sharing startup was concerned that not enough investors would participate, Reuters reported. Biggest investor SoftBank was discussing investing between $750 million and $1 billion, according to Reuters. But even then, The We Company thought the IPO would raise a little over than $2 billion, short of its target of at least $3 billion.
That target is one condition for a $6 billion credit line The We Company secured from banks last month.
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