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https://www.marke****ch.com/story/you-can-buy-this-wework-rivals-shares-at-a-fraction-of-the-price-2019-07-30
According to the WSJ, Wework valued at $47 billion are now planning to IPO in September, they are also raising circa $5 billion in bank funding to aid the Issue and reduce the amount being offered in the IPO, be interesting to see the impact this will have in creating awareness of the Sector and IWG's August numbers should help massively
Has been Mark Dixon hoovering up something like 11 million shares over the last couple of years. Definitely sure now!
Actually there were several bidders, probably chancers after profit warning last summer: IWG, back in August of last year, rejected offers from several bidders, saying none were capable of delivering an executable transaction at a recommendable price. Bidders included Starwood Capital European Operations Ltd, Terra Firma Investments Ltd and TDR Capital LLP. More recently a lot of activity by Mr Dixon through an investment vehicle as well as considerable amounts directly for himself around the £3.40 area. The market does not appear quite so enthusiastic yet having flirted with £3.60 recently. Moves in mysterious ways!
Another consideration is last years offer of a buyout from US property firm being rejected. Although an increased offer was being considered nothing more materialised. Maybe kicking themselves now because the price is likely to be a lot higher if the deals in the pipeline do materialise
Neither does anyone else. Tried to breakaway from very narrow Bollinger band since the last news. Confident CO predicts more such deals this year to further enhance group. Has put money where his mouth is . Probably fairly valued till the next deal signed. You have to be in it to win it. Short term market is jittery unsurprisingly . Longer term looks like a very solid investment.
I don't know what to make of this company and their stock. I'm sitting in a WeWork office right now (there's a company that's massively overvalued!) and can't help thinking that IWG are doing the same thing but are given a fraction of the valuation. I have traded these successfully before but right now I can't work out whether they are a bargain or just fairly valued in a sector where valuations have gone nuts. Anyone have any experience of their offering?
good to see that Toscafund again increased their holding and Mark Dixon again adding - must be confident
Hope you r right !!!!!
See my post 2 Feb 2018. For once, I was ahead of the game :)
BUY
will result in plus 8% on sp today /tomorrow is my guess.
All seems to be on track business wise and the payment from the Japanese franchise will reduce debt by circa 60% later this month.....
The key words for me though are around the future partnering/franchising;
"As previously reported, we are experiencing strong momentum in this strategy, with counterparties wanting to operate IWG's brands across a wide geographic spectrum. We anticipate further deals in the future to continue to unlock value for our shareholders."
Very positive for further debt reduction, special dividends and share price uplift.
Notice of results for first quarter 1st of MAY. This has held up really well after the strong rise. thought it would pull back a bit more. Don't think that is likely now in the unlikely event that results spook. The chart remains strong. A sequence of green candles indicating good momentum continuing. So yes could be on the way to brokers target for a change!
IWG is heading towards broker target of 400p which seems right t me - IMHO DYOR
is 400p
according to the FT IWG are already in negotiations to sell Spaces to the American Outfit you mention called Wework or The We company as they call themselves, this makes a lot of sense given they (The We Co) burn cash at an enormous rate and have funding expectations reduced by Softbank from $16 billion to £2 billion. They probably need to IPO, Spaces would add a lot of value given it is likely to be 50% of its current size by the end of the year and WEwork funding recent round was based of a $47 billion valuation - mental i know- but the thing is if Wework dont buy them and still IPO, then i think Spaces could be hived off in a US - IPO at the same time feeding off the hype- they almost need to do the deal, it so dramatically impacts their numbers on a value per customer basis which is how they like to report - wonderful
Vulcan, the profit impact was relatively small. Another positive that I read over w/end is the move to emulate an american company that is worth billions but yet to turn a profit, working in this arena !
So we could be talking mulitples and if so a 'hive off' would crystallise value imho [ and wishful thinking].
agreed the amount paid is much higher than the NAV in the accounts. If this is repeated in other regions then there will be a re rate.
In addition this payment reduces our debt significantly which was seen by many as too high.
I am not sure of the earnings impact.......
I have owned these in the past but I bought back in this morning.
because it looks like a large sum for the assets and underpins the lower cost franchise model much like IHG - should result in significant re rate imv.
https://finance.yahoo.com/news/edited-transcript-iwg-l-earnings-200137168.html
This is the most resilient share I’ve seen in my life, even with two successive profit drops the share still goes up not that anyone is complaining.
It’s also comforting to know that there seems to be a very strong floor/support at 1.95
...look reasonable with BoD optimistic about the future.
Flexible office space demand item on BBC news website today suggests appreciable future demand.
TF are reported in today’s Times as being behind yesterday’s sp increase, on the basis of alleged Interest in acquiring the Spaces part of IWG.