- WeWorkCEO Adam Neumann may be trying to wrap up his company’s IPO “road show” and price the IPO in a matter of days.
- Neumann, who is Jewish, is hoping to finish up before the important two-day Jewish holiday of Rosh Hashanah begins.
- The holiday involves pausing all business and it begins on sundown of September 29.
- The last business day before the holiday is September 27, so, if he decides to finish before the holiday, that could be when WeWork prices its IPO.
Despite the tepid response so far to WeWork’s IPO, which could see the company go public at less than half its current $US47 billion valuation, the company is currently ploughing ahead with the offering.
On top of that, it may even rush to finish its presentations to institutional investors – aka its road show – and price the offering by September 29, Bloomberg reports, citing unnamed sources.
That’s because the evening of September 29 is the start of Rosh Hashanah, one of the most important Jewish holidays in the year. WeWork’s founder CEO Adam Neumann and his wife Rebekah Neumann are Jewish and have publicly discussed how important it is to them to practice their faith. Rosh Hashanah, the Jewish New Year, is a two-day holiday typically spent in synagogue where Jews are asked to pause all business and turn off their mobile phones.
Read the article by Julie Bort in Business Insider Australia.