Company News 

Seven days: 3 May 2019

Seven days: 3 May 2019

WeWork to IPO

WeWork announced that it had filed IPO documents with the Securities and Exchange Commission, just three months after Softbank scaled back its investment in the co-working space provider. The Japanese bank had planned to invest up to $16bn (£12bn) in the heavily lossmaking company, but instead acquired $1bn in newly issued shares and bought a further $1bn in existing shares at a $20bn valuation for the group. WeWork’s revenue more than doubled in 2018 to $1.8bn, but so did losses – climbing to $1.9bn.

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