Ucommune, China’s biggest shared workspace provider, has filed a confidential prospectus with the U.S. Securities and Exchange Commission as it seeks an initial public offering (IPO) before the end of the year, reported Reuters.
This comes weeks after WeWork Cos. scrapped its own public listing plans and accepted a $10 billion bailout from Softbank.
Beijing-based Ucommune was valued at $2.6 billion about a year ago. Citigroup and Credit Suisse are the major players involved in the listing, while Bank of America has a smaller role, according to the report.
Founded in 2015, Ucommune spans 200 locations in 37 countries and plans to expand to 350 locations.
