After SoftBank slashed investment, executives are kicking around the idea
The scaling down of SoftBank’s investment into WeWork from $16 billion to $2 billion has executives at the company considering an IPO, according to the Financial Times.
Don’t bet on it: WeWork sold $702 million of speculative bonds at par last year. They tumbled to an all-time low of 86 cents in the dollar after the new funding announcement earlier this week. Imagine the stock market reacting to their billions in losses.
Heard on the Street: Green Street Advisors: “If you look at the publicly traded office REITs, they are not trading very well . . . If you look at the share prices of Amazon and Netflix, it doesn’t seem like the best time to float.”