WeWork may make changes to its corporate governance ahead of its initial public offering to reassure wary investors, Bloomberg News reported Tuesday night. It was unclear what changes WeWork’s parent company, We Co., might make. Bloomberg reported WeWork’s financial advisers have reservations about proceeding with the IPO if its valuation falls to as little as $15 billion, after being valued at about $47 billion during a funding round last year. WeWork intends to offer a three-class share structure, with co-founder and CEO Adam Neumann expected to control most of the voting power. The property-management company has posted significant losses and has included unusual metrics in its financial statements. On Monday, the Financial Times reported WeWork’s biggest investor, SoftBank Group Co., was urging the company to shelve the IPO. Bloomberg reported that the final call on what to do will be up to Neumann.
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