August 24, 2019 / 2:34 PM / 2 months ago

British office space provider IWG plans $3.68 billion U.S. float: report

(Reuters) - British office space provider IWG Plc (IWG.L) is planning to list its U.S. arm in New York for three billion pounds ($3.68 billion), Sky News reported on Saturday.

IWG’s Chief Executive Officer Mark Dixon is holding talks with investment banks on creating an independent unit, which is expected to be a publicly traded rival to WeWork, Sky News said.

Regus’s owner had put forth a condition to bankers that it will only hire them if they have no involvement in WeWork’s initial public offering (IPO), the report added.

Reporting by Maria Ponnezhath in Bengaluru; Editing by Helen Popper

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