WeWork wants to be public already in September: Source

Shared office space manager WeWork seems to be public as soon as September, earlier than previously expected, told a person familiar with the case to Reuters on Tuesday (July 23).

The company is expected to publish its original

The development was first reported by the Wall Street Journal.

WeWork refused to comment.

WeWork will host a Wall Street Banks analyst day on July 31, as part of the preparations for its listing, Reuters reported last week.

WeWork is also looking to raise $ 5 billion to $ 6 billion through a bond offer before listing, add the source, and request anonymity because the case is private. This is more than it had previously been looking to raise.

Debt offer can provide comfort for those who invest in stock exchange listing who may be worried that the cash burn at WeWork is so great that it will need to raise more money after the first offer, which would dilute their stake.

"It's a very well-known psychology of insurance companies and listed investors, and (that fear), it's something people are trying to protect themselves from," said Adam Troso, head of business consulting for properties in Greenhill & Co in New York.

WeWork was recently valued at $ 47 billion in a private fundraiser, making it one of the most valuable private companies in the world.

money-losing companies have been faced with questions about the sustainability of their business model, which is based on short-term income agreements and long-term loan obligations.

The losses in the WeWork parent company narrowed somewhat in the first quarter of 2019 to USD 264 million as revenues continue to double annually.