WeWork presses on with IPO, pushing SoftBank into a corner

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Office-sharing startup WeWork is pressing ahead with plans to go public despite lukewarm interest in its shares, three sources said, leaving its largest investor, SoftBank Group , with a stark choice: take a haircut or pony up even more cash.

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(Reuters) – Office-sharing startup WeWork is pressing ahead with plans to go public despite lukewarm interest in its shares, three sources said, leaving its largest investor, SoftBank Group (9984.T

FILE PHOTO: The WeWork logo is displayed on the entrance of a co-working space in New York City, New York U.S., January 8, 2019. REUTERS/Brendan McDermid/File Photo

SoftBank says its valuation techniques include cash-flow analysis, recent transactions and comparison with peers to underpin its numbers, but Son has won a reputation for intuitive bets and for doubling down on companies which have yet to generate hard results.

SoftBank says many investments receive a vote of confidence as third parties come in as co-investors or by making follow-on investments at the same or higher valuations.

If a tech company shelves an IPO due to a lower valuation than expected, investors are generally expected to take that fall into account when appraising their stakes.

Additional reporting by Tim Kelly in Tokyo, Julie Zhu in Hong Kong, Bharath Manjesh in Bengaluru and Dan Burns in New York; Writing by Sam Nussey; Editing by Stephen Coates, Muralikumar Anantharaman and Tom Brown


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Office-sharing startup WeWork is pressing ahead with plans to go public despite lukewarm interest in its shares, three sources said, leaving its largest investor, SoftBank Group , with a stark choice: take a haircut or pony up even more cash.

Source: {authorlink}

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