WeWork is reportedly set to pick JPMorgan and Goldman Sachs for its IPO

REUTERS/Bobby Yip

WeWork co-founder Miguel McKelvey

• WeWork is set to pick JPMorgan Chase and Goldman Sachs to leads its IPO in September, according to a Bloomberg report.
• The co-working company has announced a $6 billion debt-financing plan that would only move forward if the IPO is completed. The move reportedly increased the IPO fee pool.
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WeWork is likely to name JPMorgan Chase and Goldman Sachs to lead its initial public offering, according to a Bloomberg report citing people familiar with the matter.

WeWork also recently prepared a $6 billion debt-financing plan that would only move forward if an IPO is completed, according to the report. The package sweetened the pot for banks looking to handle the offering, as the debt deal would push fees from the IPO higher.

The co-working company is expected to pick JPMorgan for the first position in its IPO, with other banks following in the deal. The offering's terms and bank rankings also aren't yet finalized, according to Bloomberg.

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WeWork's IPO is expected to bring in about $3.5 billion, which would lead to a fee pool of more than $122 million.

Uber holds the crown for the largest 2019 IPO, bringing in $8.1 billion. Softbank, Benchmark Capital and former Uber CEO Travis Kalanick made the most from the offering.

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