WeWork on go-slow as IPO delayed

Th delay of its planned initial public offering (IPO) is a setback for office rental company WeWork.

WeWork CEO CEO Adam Neumann © Getty Images

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(Image credit: WeWork CEO CEO Adam Neumann © Getty Images)

WeWork has suffered an "embarrassing setback", say Eric Platt and James Fontanella-Khan in the Financial Times. The shared office space provider is delaying its planned initial public offering (IPO). A "chilly response" from institutional investors and calls by its biggest backer, Japanese conglomerate SoftBank, to postpone the IPO have prompted it to wait a few months. While it still plans to list by the end of this year, or in early 2020, the failure to immediately list on the stockmarket means that it won't be able to access a $6bn loan that was contingent on a successful listing.

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

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