https://wccftech.com/wework-ipo-delayed-over-investor-wariness/

The imminent IPO of WeWork, the company that provides shared workspaces, has been delayed at least until mid-October according to multiple recent reports. This decision is largely in line with street expectations as the company failed to initiate by Monday a planned roadshow to market the flotation of its shares amid mounting apprehensions over the company’s cash burn and corporate governance issues.

WeWork had been valued at $47 Billion earlier this year in a fundraising exercise with SoftBank (TYO:9984) but in recent days its executives and underwriters had become resigned to a valuation between $10 Billion and $20 Billion while gunning for an IPO in September. The expectations for an imminent IPO however proved futile as the company released the following statement late Monday: “The We Company is looking forward to our upcoming IPO, which we expect to be completed by the end of the year.” The company has been under a tremendous strain lately to raise much needed funding for its operations via an IPO especially as it has already secured a $6 Billion credit line from a consortium of banks contingent upon the company going public before the end of the year and raising a minimum sum of $2 Billion through that flotation. Having realized the implausibility of raising the required sum, WeWork ultimately decided to postpone its IPO.