Jefferies slashed the value of its stake in WeWork by $146 million more than two weeks before its failed IPO

Jefferies slashed the estimated value of its investment in WeWork by $146 million on August 31, more than two weeks before the shared-workspace group shelved its plans to go public. The investment bank's adjustment reflected a"significant discount due to uncertainty regarding the timing and pricing of We's IPO," CEO Rich Handler and President Brian Friedman said in the earnings release.

Jefferies slashed the estimated value of its investment in WeWork by $146 million on August 31, more than two weeks before the shared-workspace group shelved its plans to go public. The investment bank's adjustment reflected a"significant discount due to uncertainty regarding the timing and pricing of We's IPO," CEO Rich Handler and President Brian Friedman said in the earnings release.

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