Window closing fast for WeWork parent to launch IPO this year by ReutersJF LanceTupper1776
NEW YORK - WeWork owner The We Company faces strong headwinds in achieving its goal of launching an initial public offering by the end of the year after postponing it this month, fund managers and capital markets professionals said.
Reuters reported last week that We Company was considering seeking a valuation in its IPO of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January. “WeWork’s decision to delay its IPO only days before the road show, until sometime before year-end, hinders its ability to control the narrative,” said Dan Morgan, senior portfolio manager at Synovus Trust in Atlanta.
“Going out at the end of the year means the overlap of Thanksgiving to Christmas. No one is home. They need to go out and they likely will in October or early November,” said Duncan Davidson, general partner at Bullpen Capital, an early-stage venture capital investment firm.
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