Deals
WeWork’s China Rival Targets U.S. Listing in December
- Four-year-old Ucommune plans to raise about $100 million
- Deal is a test for investors’ appetite after WeWork saga
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Ucommune, the largest rival to WeWork in China, plans an initial public offering in the U.S. in December even as the better-known competitor still recovers from its botched IPO, according to people familiar with the matter.
The first-time share sale of the Chinese office-sharing provider could raise about $100 million, said the people, asking not to be identified discussing private matters. The four-year-old company is considering a public IPO filing as soon as the week after next, one of the people said.