WASHINGTON (dpa-AFX) - The We Company, WeWork's parent group, said Wednesday that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission regarding an initial public offering of its Class A common stock. It plans to raise up to $1 billion through the initial public offering.
The New York-based company did not disclose how many shares it plans to sell or at what price it would list its stock. But, it will list its class A shares under the ticker symbol 'WE.'
The company's leadership team is comprised of Adam Neumann, its Co-Founder, Chief Executive Officer and Chairman of the Board.
The company reported a net loss attributable to WeWork Companies of $689.68 million or $4.15 per share, on $1.54 billion in revenue for the six months ended June 30 2019.
J.P. Morgan, Goldman Sachs & Co. LLC, BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, HSBC, UBS Investment Bank and Wells Fargo Securities will serve as joint bookrunning managers for the offering.
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