China's WeWork rival Ucommune withdraws $100m US IPO, eyes backdoor listing

Photo: Ucommune

Chinese shared workspace provider Ucommune Group Holdings has officially withdrawn its plans for a $100-million initial public offering (IPO) in the US.

“In light of the current capital markets condition, the company is considering other alternatives and has determined not to proceed at this time with the offering and sale of the securities proposed to be covered by the Registration Statement,” Ucommune in a filing with the US Securities and Exchange Commission (SEC) on Thursday.

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