SoftBank may need to write down its stake in WeWork, Bernstein says
SoftBank could be forced to write down its multi-billion dollar investment in WeWork if the company fetches an IPO valuation below $25 billion, Bernstein analysts said in a note Tuesday.
"The lower the IPO value, the greater the recorded loss and greater the dilution for SoftBank," Bernstein analysts said. WeWork, which rebranded to the We Co. in January, is still trying to gauge investor appetite for a planned offering valued at between $15 billion and $20 billion. At that level, WeWork would be worth less than half the $47 billion private valuation assigned to it following a $2 billion investment in January by SoftBank's Vision Fund.
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