WeWork parent We Co. shares previously confidential IPO filing with public
WeWork parent the We Co. has publicly filed for an initial public offering of common stock. The provider of shared office spaces said it will offer Class A shares to the public, and that the shares will carry one vote each. The company has not yet provided details on the number of shares it will offer in the IPO, or the expected pricing. It had confidentially filed for an IPO in April, when it was valued at about $47 billion, according to a report in the Wall Street Journal. The company also plans Class B and Class C shares, with 20 votes per share. The lead underwriters of the IPO are J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC. We Co. recorded a net loss of $1.61 billion on revenue of $1.82 billion in 2018, after a loss of $884 million on revenue of $886 million in 2017. The Renaissance IPO ETF has gained 2.7% over the past three months, while the S&P 500 has advanced 3.2%.
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