Loss-making WeWork eyes big IPO and looks to borrow billions
Unconventionally, the office-rental company will have three classes of common stock, after a net loss of $690m in the first half of 2019
14 August 2019 - 17:31
New York — WeWork has disclosed its plans for an initial public offering (IPO), revealing a net loss of $690m in the first six months of 2019 as it moves towards an autumn listing that will test investors’ appetite for money-losing startups.
Revenue in the first-half more than doubled to $1.54bn, the US Securities and Exchange Commission (SEC) filing showed. The company plans to list shares under the symbol “WE”, although the exchange was not listed...
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