The Flexi Group is expected to be headquartered in Kuala Lumpur and led by Chris Edwards, who previously served as The Hive’s COO.
WeWork’s occupancy hit 72% in Q2, the highest it’s been since the pandemic began and matching the company’s pre-pandemic levels in late 2019.
On Wednesday, WeWork said it has to revise its Q3 financial statements after discovering that it misclassified some of its public shares.
Last week, WeWork announced it will move forward with its planned IPO and will begin trading on Oct. 21 on the New York Stock Exchange.
The deal, which values Industrious at more than $600M, comes ahead of the flexible workspace provider’s potential IPO this year.
Coworking operator Industrious is taking steps toward an initial public offering, which may be announced as soon as spring of 2021.