The embattled workspace group made the call on Monday to delay its listing, Reuters said. WeWork told Markets Insider it expects to IPO by year-end.
WeWork has delayed its IPO, according to Reuters. The shared-workspace group was gearing up for an investor roadshow this week and a public debut this month, but made a"last-minute decision on Monday to stand down," Reuters said, citing people familiar with the matter. Key investor SoftBank discussed kicking in between $750 million and $1 billion to support the IPO, but WeWork determined it would still have raised less than the $3 billion needed to unlock a $6 billion credit line.
WeWork has delayed its IPO, according to Reuters. The shared-workspace group was gearing up for an investor roadshow this week and a public debut this month, but made a"last-minute decision on Monday to stand down," Reuters said, citing people familiar with the matter. Key investor SoftBank discussed kicking in between $750 million and $1 billion to support the IPO, but WeWork determined it would still have raised less than the $3 billion needed to unlock a $6 billion credit line.
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