WeWork Delayed IPO Launch by End of 2019
A stock offering from fast-growing office-sharing startup WeWork is being delayed and will likely occur by the end of 2019, the parent company said.
The news from The We Company, which had filed paperwork for an expected listing this month, puts off the listing amid concerns about a huge overvaluation of the company.
"The We Company is looking forward to our upcoming IPO, which we expect to be completed by the end of the year," a company statement said late Monday.
"We
want to thank all of our employees, members and partners for their
ongoing commitment." The We Company, its parent firm, was thought to be
moving forward with listing on the Nasdaq next week.
WeWork had been expected to launch its IPO roadshow on Monday to market its shares to potential investors.
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