Despite waning interest from investors, WeWork still wants to go public this month. Insiders argue that to the American business newspaper The Wall Street Journal. CEO Adam Neumann would have insisted on continuing the IPO, because he foresees few changes to the current situation next year and because his company needs the money to grow.
The IPO is probably taking place in the week of September 23, according to the sources. Bloomberg news agency reports based on insiders that the price of the IPO must be completed in that week. Neumann would like to have everything ready for the Jewish party Rosh Hashanah, which is being celebrated this year from September 29 to October 1. Then he can celebrate the Jewish New Year without having to use technology. That is not allowed according to orthodox Jewish custom.
WeWork also made the choice to place its shares on Nasdaq, writes the American business newspaper. It is unusual to postpone this decision shortly before the IPO.