IWG raises £320mln in share placing as it expects significant hit to quarterly sales
The firm is looking to adjust its spaces to social distancing demand and take advantage of merger and acquisition opportunities
Company
IWG PLC
LON:IWG
IWG is a provider of outsourced workplace solutions. With approaching 3,000 locations in over 100 countries and 1,000 cities across the world, IWG is the global leader in the fast-growing Workspace-as-a-Service (WaaS) sector. Our companies – which include Regus and Spaces – help more than 2.5mln people and their businesses to work more productively. We do so by providing a choice of professional, inspiring and collaborative workspaces, communities and services.
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FTSE 100 closes higher despite dismal US data
Britain's blue-chip index finished up over 74 points at 6,218
IWG suspends share buyback programme and puts the dividend on hold
The serviced office space provider is expecting there to be pressure on its business as more countries impose lockdowns
IWG sacrifices profits to reshape office network
The FTSE 250-listed company cut 4% of its network in the nine months to 30 September, with year-to-date profits losing £28mln
IWG to sell Swiss co-working business for £94mln
The move follows the sale of the serviced office group's Japanese business for £320mln with exclusive franchising rights in April
Investments and investor services
FTSE 100 closes higher and global stocks rally as trade fears seem to ease
On Wall Street, the Dow Jones Industrial Average is up 287 points at the time of writing
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Jobs figures take macro spotlight on Tuesday while LandSec leads company reports
Analysts at RBC Capital Markets are expecting the UK jobless rate to remain below 5% for a third successive month
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FTSE 100 closes firmly lower as investors shun risk and amid Brexit deal chatter
The UK's premier share index finished down nearly 33 points at 7,385
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Will Next spring a surprise in Wednesday’s first-quarter trading update?
There’s a lot for investors to get their teeth into on Wednesday, with Sainsbury’s, GSK and Persimmon among the slew of companies reporting alongside Next
Credit Suisse double-upgrades IWG to ‘outperform’ from ‘underperform’ on Japan strategic partnership news
“It is early in the process with limited tangible progress but management is clear that it has received significant interest at attractive prices for certain IWG assets,” the Swiss bank's analysts said
Office giant IWG sells off Japanese business for £320mln
IWG, which used to be known as Regus, will provide TKP with services such as access to its sales platform and its operational technology, for which TKP will pay a fee linked to revenue
Investments and investor services
FTSE 100 closes flat as traders don't know which way to turn
Footsie closed down around 0.19 at 7,436, while mid-cap FTSE 250 was up around 95 points at 19,807
IWG’s franchising strategy could see share price “more than double”, says Peel Hunt
The broker upgraded IWG to ‘buy’ from ‘hold’ and lifted its target price to 351p from 190p, saying the move to potentially franchise out whole parts of the business “could release a lot of value”
IWG upgraded by RBC on in-line full-year results and positive outlook
RBC Capital Markets raised its recommendation on IWG to ‘sector perform’ from ‘underperform’ and lifted its price target to 260p from 200p
Berenberg downgrades Workspace, initiates three other property stocks as it launches coverage of London office market
Berenberg's analysts concluded: “Capital values and rents are at all-time highs and have begun to turn, while increasing tenant expectations are putting pressure on operating margins and increasing building obsolescence”
IWG shares jump as serviced offices group posts strong growth in revenues, driven by overseas operations
For the three months to the end of September, FTSE 250-listed group saw its revenue increase by 10% at constant currency rates to £637.9mln, up from £585.7mln a year earlier
IWG CFO Dominik de Daniel steps down in wake of profit warning
IWG has appointed Eric Hageman as interim CFO until a permanent replacement for Dominik de Daniel is found
RBC Capital cuts rating for IWG to ‘underperform’ as it thinks “risk reward is not in favour”
Back at the start of August, IWG - formerly known as Regus - said it had abandoned takeover talks with three remaining bidders saying none were capable of delivering an executable transaction at a recommendable price
What's in a name? A dog by any other name ...
Sometimes, changing a company's name is like putting a lick of paint over a woodworm-infested bench
IWG shares plummet as it ends takeover talks with three suitors
IWG reported a 33% drop in first-half pre-tax profit, blaming investments in refurbishments and talent, higher marketing spend and a weak UK market