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WeWork throws in the towel on its ill-fated IPO

Anirban Sen

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WeWork's parent The We Company has said it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer.

The withdrawal of its IPO prospectus formalises the end of the New York-based company's pursuit of a listing soon and allows Mr Neumann's successors to proceed with the company's financial turnaround without disclosing as much information publicly.

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Reuters

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    Original URL: https://www.afr.com/property/commercial/wework-throws-in-the-towel-on-its-ill-fated-ipo-20191001-p52whq