WeWork withdrawing its stock market IPO filing
Posted September 30, 2019 7:00 am
NEW YORK (AP) - WeWork says it is withdrawing its initial public offering less than a week after its controversial CEO stepped aside from the troubled company.
The office-sharing company announced Monday that it will withdraw the Aug. 14 regulatory filing detailing plans for an IPO.
WeWork's new co-chief executive officers, Artie Minson and Sebastian Gunningham, said in a statement that, "We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong."
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