Equities

Reuters first to report China's WeWork equivalent Ucommune files for U.S. IPO

Reuters first to report China's WeWork equivalent Ucommune files for U.S. IPO

Reuters broke news that China’s biggest shared workspace provider Ucommune has filed a confidential prospectus with the U.S. securities regulator as it seeks an initial public offering (IPO) before the end of the year. Ucommune‚Äôs decision to explore a listing has surprised investment bankers given the similarities between its business and that of embattled U.S. rival WeWork, which had to be bailed out in a $10 billion deal after investors soured on an IPO plan.