Shares of shared space operator WeWork debuted on the New York Stock Exchange (Nyse) on Thursday. The roles came to rise 9.83%.
The company joined the stock market once and for all via a merger with a Special Purpose Acquisition Company (SPAC) BowX Acquisition two years after a failed share offering.
In 2019, WeWork's IPO fell apart after investors questioned its governance practices and actual value. Now the company makes its debut after a restructuring under the command of CEO Sandeep Mathrani.
The executive sold the thesis of WeWork as a company that offers "space as a service" with the changes in work dynamics in the post-pandemic, saying that the company is well-positioned to take advantage of this moment.