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IWG’s potential switch to U.S. accounting standards is a strategy that has not yet left the table.
The company has been considering the possibility of an official U.S. stock market listing in recent months, and according to a report published by The Evening Standard, that is still a very possible option for one of WeWork’s largest competitors.
It’s reported that IWG is still evaluating the adoption of U.S. accounting standards (US GAAP) as it considers leaving the London-exchange for New York’s — to capitalize on the higher valuations often awarded to tech unicorns like Snapchat.
In 2023, IWG focused heavily on expanding its footprint within key international markets. The company has since reported a record revenue of $3.3 billion, which marks the most successful year in the company’s 35-year history.
The U.K.-based firm now boasts over 4,000 office locations worldwide and has already transitioned to reporting its financial results in U.S. dollars.
It’s also worth noting that IWG has 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, adding to IWG’s existing portfolio of 46.
The final decision on where the company adopts U.S. GAAP and pursues a U.S. listing is expected in the coming months.
For IWG, this potential pivot to the U.S. market is not just about managing financial growth but also about aligning with global market dynamics and enhancing investor relations in a highly competitive and fast-growing sector.
