WeWork goes public through SPAC, 2 years after failed IPO attempt


The office-leasing company scrapped plans for an IPO in 2019 after investors’ concerns over its business model and corporate governance and its founder and former CEO Adam Neumann

Topics


WeWork | IPO | Office leasing


Reuters 


Photo: Reuters

Photo: Reuters

Shares of WeWork jumped 8 per cent in early trading on Thursday, as the company went public through a special purpose acquisition company over two years following its failed IPO.

The stock is up more than 5 per cent.

The office-leasing company scrapped plans for an IPO in 2019 after investors’ concerns over its business model and corporate governance and its founder and former CEO Adam Neumann. Things have rebounded in recent months, WeWork executives said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, October 21 2021. 23: 26 IST