Sale of the Executive Centre has been postponed due to concerns that ongoing, violent protests in Hong Kong and WeWork’s rocky IPO process could depress its valuation. The company is now expected to go public later this year or early next year. The company, which was founded in 1994, operates more than 130 flexible office centres in 32 cities in Asia and the Middle East. CVC declined to comment. Its Hong Kong offices contribute about 30% of its EBITDA. Although no price has been openly discussed, a report in the Financial Times in April suggested the owners were seeking a valuation of more than $750m.
Sale of the Executive Centre has been postponed due to concerns that ongoing, violent protests in Hong Kong and WeWork’s rocky IPO process could depress its valuation. The company is now expected to go public later this year or early next year. The company, which was founded in 1994, operates more than 130 flexible office centres in 32 cities in Asia and the Middle East. Its Hong Kong offices contribute about 30% of its EBITDA. Although no price has been openly discussed, a report in the Financial Times in April suggested the owners were seeking a valuation of more than $750m.