(Reuters) – British office space provider IWG Plc <IWG.L> is planning to list its U.S. arm in New York for three billion pounds ($3.68 billion), Sky News reported on Saturday.
IWG’s Chief Executive Officer Mark Dixon is holding talks with investment banks on creating an independent unit, which is expected to be a publicly traded rival to WeWork, Sky News said.
Regus’s owner had put forth a condition to bankers that it will only hire them if they have no involvement in WeWork’s initial public offering (IPO), the report added.
IWG declined to comment.
(Reporting by Maria Ponnezhath in Bengaluru; Editing by Helen Popper)