WeWork shelves IPO plan – WeWork has postponed its multi-billion IPO after failing to attract enough support from investors.
The US co-working giant is now planning to complete its float by the end of this year.
The move follows a call last week from its largest investor Softbank to shelve the listing.
WeWork had aimed to raise between $3bn and $4bn for the IPO, but concerns over the power founder Adam Neumann would still hold over the listed company and its increasing losses scared investors away.
The WeWork prospectus showed that even though revenue had doubled every year since 2016, it had made losses of more than $4bn.
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