HQ unaffected by decision not to float

Ron Adam, operations director at HQ Executive Offices, the UK arm of HQ Global, says it is 'business as usual' despite the parent company's decision to postpone an initial public offering (IPO).

HQ Global, owned ultimately by the giant CarrAmerica Realty Corporation, operates 270 business centres in 17 countries. Business has been good, not least in the UK where planned expansion remains on target.

The proposed IPO produced a value for the company of about £300M, considered in some quarters to be rather low in comparison to the £1bn value that competitor Regus had suggested for itself. And like Regus, flotation has now been put off at least until next year.

"The difference," said Adam, "is that we were not nearly so far down the track as Regus. This was a case of testing the market - and it has been concluded that the time is not right

. "The decision has no practical or operation effect on us as a business," he added.

Elliott Chase