CORRECTED-Britain’s IWG intends to raise $385.5 mln through share offering

(Corrects paragraph 1 to drop reference to share price)

May 27 (Reuters) – British office space provider IWG Plc said on Wednesday it plans to raise about 315 million pounds ($385.50 million) through the issue of new shares.

The company, which rivals U.S.-based WeWork, also said it expects the impact of coronavirus outbreak to be greater in the second quarter due to lower new sales activity during March and April.

$1 = 0.8171 pounds
Reporting by Samantha Machado in Bengaluru; Editing by Aditya
Soni