Shares in serviced office group IWG (LON:IWG) jumped 20 per cent on Monday morning, after it received takeover offers from three separate equity groups.

Shares had already risen 10 percent before the weekend as speculation surrounding possible offers heightened. The group, who were previously named Regus, then admitted to receiving bid offers from Lone Star, Starwood and TDR Capital.

“The board is evaluating the possible offers with its financial advisers and shareholders will be updated in due course,” the statement said.

Earlier this year IWG rejected a takeover bid from Brookfield Asset Management and private equity house Onex, that valued the group at around £2.5 billion.

The flexible working market has seen a spike of interest in the UK of late, with startups and small businesses preferring to take part of a serviced office with other businesses instead of forking out the entire rent for a space on their own. However, IWG face tough competition from rivals like millennial favourite WeWorks and The Office Group.

Shares in IWG (LON:IWG) are currently trading up 20.56 percent at 303.80 (1001GMT).