Wednesday, August 14, 2019

WeWork Files For $1 Billion IPO

WeWork, the co-working space operator which has a significant presence across Southern California, has filed for an IPO, saying this morning that it is looking to raise up to $1,000,000,000 in a public offering. The company is looking to trade under the symbol WE, but has not yet selected an exchange. The IPO is being underwritten by J. P. Morgan, Goldman Sachs & Co., BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, HSBC, UBS Investment Bank, and Wells Fargo Securities. WeWork first built out its network of coworking space through efforts in Los Angeles. WeWork is backed by Benchmark, J.P. Morgan, and Softbank, among others.

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