Business / Corporate Dec 13, 2019

SoftBank-backed OneConnect sees valuation tumble in U.S. IPO

Ping An Insurance Co.'s OneConnect Financial Technology said Thursday it raised around $312 million in its U.S. initial public offering, valuing the company at around $3.7 billion. OneConnect sold 31.2 million American depositary shares (ADS) at $10 each. Earlier this month, it had aimed to ...

SoftBank to go ahead with WeWork stock tender offer this week

Business Nov 25, 2019

SoftBank to go ahead with WeWork stock tender offer this week

SoftBank Group Corp. will this week launch a previously agreed tender offer for as much as $3 billion of WeWork shares, including up to $970 million owned by the office sharing company's cofounder, Adam Neumann, two people familiar with the matter said. The tender offer ...

WeWork throws in the towel on its ill-fated IPO

Business Oct 1, 2019

WeWork throws in the towel on its ill-fated IPO

WeWork's parent, The We Co., said Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer. The withdrawal of its IPO prospectus formalizes the end of the New York-based ...