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9/13, 9:01 PM (Source: TeleTrader)
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Softbank to buy $750M of WeWork shares in IPO - reports

SoftBank Group Corp will acquire $750 million of WeWork's stock during its upcoming initial public offering (IPO), the Wall Street Journal reported on Friday citing sources familiar with the matter.

The Japanese technology conglomerate, which is already WeWork's largest external investor, would end up with 25% or more of its shares sold in an offering that is expected to raise at least $3 billion and value the startup at between $15 billion and $20 billion, according to the sources. However, they also warned that the situation was still fluid and that there was no guarantee that there would be enough overall demand for the offering or that the company would achieve a valuation within the currently-envisioned range.

In addition, the sources said that WeWork plans to begin officially marketing its shares to investors next week ahead of its debut during the week of September 23. Similar reports on Tuesday stated that the company's IPO would go ahead as planned and that its roadshow could be held on Monday.

Breaking the News / DZ