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British office space provider IWG plans $3.68 billion U.S. float- report

Aug 24 (Reuters) - British office space provider IWG Plc is planning to list its U.S. arm in New York for three billion pounds ($3.68 billion), Sky News reported on Saturday.

IWG's Chief Executive Officer Mark Dixon is holding talks with investment banks on creating an independent unit, which is expected to be a publicly traded rival to WeWork, Sky News https://news.sky.com/story/regus-owner-iwg-targets-wework-with-plan-for-3bn-us-float-11792787 said.

Regus's owner had put forth a condition to bankers that it will only hire them if they have no involvement in WeWork's initial public offering (IPO), the report added.

IWG declined to comment. ($1 = 0.8145 pounds) (Reporting by Maria Ponnezhath in Bengaluru Editing by Helen Popper)