- WeWork is set to pick JPMorgan Chase and Goldman Sachs to leads its IPO in September, according to a Bloomberg report.
- The co-working company has announced a $6 billion debt-financing plan that would only move forward if the IPO is completed. The move reportedly increased the IPO fee pool.
- Visit the Markets Insider homepage for more stories.
WeWork also recently prepared a $6 billion debt-financing plan that would only move forward if an IPO is completed, according to the report. The package sweetened the pot for banks looking to handle the offering, as the debt deal would push fees from the IPO higher.
The co-working company is expected to pick JPMorgan for the first position in its IPO, with other banks following in the deal. The offering’s terms and bank rankings also aren’t yet finalized, according to Bloomberg.
WeWork’s IPO is expected to bring in about $3.5 billion, which would lead to a fee pool of more than $122 million.
Uber holds the crown for the largest 2019 IPO, bringing in $8.1 billion. Softbank, Benchmark Capital and former Uber CEO Travis Kalanick made the most from the offering.
Now read more markets coverage from Markets Insider and Business Insider:
- ‘Growth stocks in disguise’: Lower rates are supposed to crush bank shares — but one multi-billion-dollar manager says they could explode 10% higher
- GOLDMAN SACHS: These are the 3 best stock-market strategies for investors looking to fight back against slowing profits
- A Wall Street stock chief explains how the Fed has brought the stock market dangerously close to disaster — and why rate cuts might be too late to avoid it