Ucomme has formally filed for a $100m initial public offering, confirming months of reports and putting Beijing Xingpai, Dahong Group, Junfa Group, Prosperity Holdings and Yintai Land in line for exits.
Ucommune, a China-based co-working space operator whose shareholders include real estate developers Dahong Group, Junfa Group, Prosperity Holdings and Yintai Land, filed for a $100m initial public offering on Wednesday.
Founded in 2015 as URWork, Ucommune maintains hundreds of co-working spaces spanning 44 cities across China, Singapore, the US and UK. It also provides fully customised spaces for large clients. It made an $80.1m net loss in the first nine months of 2019 from $122m in revenue.
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Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
