The We Co. expects to complete its IPO by the end of this year, Reuters reported, citing a statement from the company, after the parent of coworking giant WeWork Cos. Inc. paused the offering slated for this month.
The We Co. was seeking at least $3 billion from the IPO later this month as part of the conditions for a $6 billion credit line it secured from banks in August. The company was reportedly in talks for SoftBank Group Corp. to purchase between $750 million and $1 billion of its shares but realized that it would fall short of its $3 billion target even with SoftBank's support.
If the listing plan does not go through, the company will have to seek alternative funding sources for its operations, Reuters added.
