The We Company, owner of the coworking company WeWork, plans to proceed with a series of meetings to allow top executives to have the opportunity to talk with current or potential investors for its initial public offering (IPO) as early as next week, although people familiar with the matter have said that concerns have arisen over the valuation it can achieve in a listing.
It had been reported that the company now estimated it could be valued at a little over $20 billion in a listing, less than half the $47 billion valuation it achieved in a private fundraising round in January.
A big drop in We Company’s valuation would be a blow to its existing investors, including its biggest financial backer, Japan’s SoftBank Group Corp.
We Company told its IPO underwriters and potential stock market investors on Friday to expect the launch of the roadshow as early as the middle of next week, the sources said. The sources cautioned that no final decision on beginning the roadshow has been taken and the plans are still subject to change.
