China’s Shared-Office Specialist Labors to Succeed Where WeWork Failed

Shared workspace specialist Ucommune has filed to raise about $100 million in a New York IPO, launching the plan into a weak market that has seen similar listings slashed due to poor investor sentiment.

Reflecting that sentiment, Chinese financial services software maker OneConnect Financial Technology Co. Ltd. submitted an updated prospectus cutting the fundraising target for its own New York Stock Exchange listing by half on Wednesday, the same day Ucommune filed its initial public offering prospectus. Many of the roughly dozen Chinese companies that have filed for U.S. IPOs since the end of September are losing money, which observers said may be partly to blame for the weak reception.