EXCLUSIVE-WeWork to host Wall Street analyst day in IPO push-sources

By Joshua Franklin

NEW YORK, July 18 (Reuters) - The We Company, parent offlexible workspace operator WeWork, plans to host an analyst dayfor Wall Street banks on July 31, as the company steps up itspreparations for an initial public offering (IPO), peoplefamiliar with the matter said.

WeWork's decision to host the event at this stage isunusual, given that IPO hopefuls have typically hiredunderwriters by the time they invite analysts from Wall Streetbanks to educate them about their company's business.

While WeWork filed for an IPO with the U.S. Securities andExchange Commission in December, it has yet to hire IPOunderwriters, the sources said. WeWork wants to be in a positionto potentially go public by the end of 2019, the sources added.

The hosting of the event at this early stage indicated thatthe New York-based start-up wants to leave nothing to chanceafter other high-profile IPOs struggled or were canceled thisyear, amid pushback from investors over the frothy valuationssought.

The sources asked not to be identified because the matter isconfidential. A spokesman for WeWork declined to comment.

The IPO market has been challenging for some of this year'sbiggest listings. Ride-hailing companies Uber Technologies Incand Lyft Inc faced criticism from investorsabout their steep losses and the lack of commitment to atimetable to reach profitability.

Last week, Anheuser Busch InBev NV, the world'slargest brewer, shelved the initial public offering (IPO) of itsAsian business after it could not muster enough investor supportfor the valuation it sought.

WeWork was recently valued at $47 billion in a privatefundraising round, making it one of the most valuable privatecompanies in the world.

However, the money-losing company has faced questions aboutthe sustainability of its business model, which is based onshort-term revenue agreements and long-term loan liabilities.

The losses at WeWork's parent company narrowed slightly inthe first quarter of 2019 to $264 million as revenue continuesto double annually.

WeWork is looking to raise $3 billion to $4 billion in debtbefore it goes public, and has held discussions withrepresentatives of Goldman Sachs and JPMorgan Chase & Co todiscuss the debt offering, Reuters reported earlier this month.

A substantial debt offering could allow it to pitch itselfto potential investors in a planned IPO as having sufficientfunding to see itself to profitability.

(Reporting by Joshua Franklin in New York; Editing by CynthiaOsterman)