Workspace firm IWG considering multibillion pound break-up
Serviced offices firm IWG is considering splitting into several different companies.
Mark Dixon, founder of the Regus and Spaces operator, is examining different options to bring value to shareholders, Sky News has reported.
The founder is reportedly looking at options including a US listing for Worka, an app that helps users compare and book workspaces across the world.
That listing could be achieved through a flotation or merger with a special purpose acquisition company (SPAC), insiders told Sky News.
Plans could also include separating IWG’s owned-property arm from its global franchising operation.
It was reported that it was not the case that Dixon would take the property company private himself.
He is reported to believe the true value of the company’s assets is double its £2.9bn market capitalisation sum.
IWG’s corporate brokers, Barclays and HSBC, IWG’s corporate brokers, are reportedly involved.
What’s more, Rothschild is thought to be discussing the US listing with Dixon.