WeWork says will file to withdraw IPO

(Reuters) – WeWork’s parent The We Company said on Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed firm removed founder Adam Neumann as its chief executive officer.

“We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong,” WeWork’s newly appointed co-CEOs Artie Minson and Sebastian Gunningham said.

“We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future.” [nBw2yMFD4a]

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.