IWG, a leading global provider of flexible office spaces, is inching toward the possibility of an official U.S. stock market listing to capitalize on the higher valuations often awarded to tech unicorns like Snapchat.
Over the past year, the flexible workspace provider has been pursuing an aggressive expansion strategy in key markets around the world as the demand for hybrid and flexible work solutions increases.
According to a report published by Bloomberg, the firm is also aligning its financial practices with U.S. standards — including a company transition to dollar reporting and it’s considering the adoption of US GAAP accounting standard. These strategic decisions come as IWG reports a record revenue of $3.3 billion, which marks the most successful year in the company’s 35-year history.
It is worth noting that the company has also been reorienting its U.S. portfolio towards flexible workspaces closer to residential areas. In Arizona, for example, the firm recently announced the launch of 15 new spaces, added to IWG’s existing portfolio of 46.
All these key decisions hint at IWG positioning itself for a very possible jump to the U.S. stock exchange. The switch from London’s stock market to a U.S. listing would signify a major development for IWG — as it seeks to leverage the advantages of the U.S. financial markets. As the company adapts to the changing demands of the global workforce, its focus on offering flexible options closer to professionals’ homes may pay off.
