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...Co-working group IWG, which owns the Regus and Spaces brands, has pledged to simplify its financial reporting and reduce debt as it takes steps towards quitting the London market for the US....
...Under its old name of Regus, IWG had big plans when it listed more than two decades ago. Returns to shareholders have been modest....
...The Regus office owner has been a three-decade work in progress as founder Mark Dixon tries to tease out hidden value that’s often visible only to him....
...But the UK-listed owner of the Regus and Spaces brands said there was evidence its fortunes would turn round as the risks from coronavirus receded....
...The owner of Regus, a provider of flexible office space, said ebitda earnings would fall again this year. Investors fled, sending London-listed shares down by more than a tenth....
...IWG, the owner of Regus serviced offices, said recent demand for flexible office space has been “unprecedented”....
...IWG declared its Jersey-based subsidiary Regus insolvent last year, dissolving almost 800 lease guarantees in the process, as it sought to extract rent reductions from landlords....
...Shares in London-listed IWG, formerly known as Regus, fell almost 9 per cent on the announcement on Tuesday. “It’s the most difficult period I’ve experienced in 30 years, no question,” said Mr Dixon....
...The company, formerly known as Regus, said that the virus and its impact on the office market presented “an increased number of attractive organic and inorganic opportunities to accelerate the growth and...
...IWG, formerly known as Regus, has raised a £320m war chest via a share placing, which it said last week it intended to use to fund an expansion drive....
...Mark Dixon, chief executive, said the group — which runs more than 3,000 offices globally under brands including Regus and Spaces — would look to replicate a “master franchise” deal agreed in Japan this...
...Earlier this month, IWG, owner of the Regus brand, announced plans to sell assets in the face of competition from WeWork....
...The business, previously known as Regus, revealed that accounting changes under the IFRS 16 standard will make it appear more indebted and less profitable....
...The Switzerland-based group, previously known as Regus, agreed to sell its Japanese business for £320m in cash to TKP, a Tokyo-listed provider of rented conference rooms and banquet halls....
...He’s teaming up with Matt Young, the former comms boss at Lloyds (now at Regus), and Jenny Scott, who had the role at the Bank of England. The fourth co-founder is James Acheson-Gray....
...Any new deal would come as IWG, formerly known as Regus, reports a fall in profits due to the cost of increasing and reshaping its portfolio, partly in response to the trend for fashionable, WeWork-style...
...In some ways, its investors can be more relaxed — if not as laid back as Regus’s casual dressers....
...In addition to the groups expansion programme, the company formerly known as Regus also noted that revenues at its mature office spaces grew by 2.9 per cent in the third quarter, and occupancy rates ticked...
...IWG, which operates in about 3,000 locations in 100 countries, is best known for its Regus brand, but also sells flexible shared office space under the Spaces label....
...The US arms of Regus and rival HQ Global Workspaces both entered Chapter 11 bankruptcy protection....
...Even so, WeWork’s gold-plated funding will be galling for listed rival IWG (formerly Regus)....
...IWG, formerly known as Regus, has decided that none of its potential bidders is proposing an acceptable deal. In other words, the price wasn’t right....
...Indeed, an equity valuation of 35 times trailing annual revenues seems a bit, well, mad for an office-space manager -- IWG Plc, which runs Regus, trades at 1.2 times its 2017 revenue -- but for a platform...
...The UK-listed group, which is best known for its Regus office brand, has attracted unprecedented attention from would-be buyers, but said none of the three private equity offers was “currently capable of...
...The Regus office owner, which this month said it was being stalked by three private equity companies, rejected a cash offer from a consortium led by US property investor Prime Opportunities....
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