NEW YORK (Financial Times) -- SoftBank, the biggest outside shareholder in WeWork, is urging the lossmaking property group to shelve its hotly anticipated initial public offering after it received a cool reception from investors, according to people briefed on the discussions.
WeWork's parent company, the We Company, has been aiming to raise between $3bn and $4bn in its flotation. But it has faced criticism from investors and analysts on Wall Street over its governance, payments made to co-founder and chief executive Adam Neumann and its use of a complicated corporate structure.
