Leading office-sharing company goes for IPO

UR Work, one of China's biggest office-sharing ventures, will seek an initial public offering on the capital market in 2018 amid a boom in China in its sector, as increasing numbers of company startups and freelancers are looking for affordable accommodations.

"Sharing economies like office-sharing is a relatively new concept in China, but global office-sharing firms have been around for decades, and I think it will be a future trend in a startup boom," said Mao Daqing, founder of the Beijing-based company.

Mao, former vice-president of real estate giant China Vanke Co, who left the property company more than a year ago, said that the traditional property market has been growing too rapidly in recent years, with buyers using high financial leverage to cope with skyrocketing house prices.