Reuters first to report China’s WeWork equivalent Ucommune files for U.S. IPO

Reuters broke news that China’s biggest shared workspace provider Ucommune has filed a confidential prospectus with the U.S. securities regulator as it seeks an initial public offering (IPO) before the end of the year. Ucommune’s decision to explore a listing has surprised investment bankers given the similarities between its business and that of embattled U.S. rival WeWork, which had to be bailed out in a $10 billion deal after investors soured on an IPO plan.