Online education platform Coursera targets over $4 bn valuation in US IPO

(Reuters) - Online education provider Coursera Inc is aiming for a valuation of more than $4 billion in a U.S. initial public offering (IPO), a regulatory filing on Monday showed.

The company said it planned to offer around 14.66 million shares of its common stock in its IPO and that its selling shareholders were offering around 1.1 million shares, priced at between $30 and $33 apiece.

At the upper end of the price range, the company is looking to raise around $519 million.

Coursera, a platform used by more than 3,700 colleges and universities, offers courses such as machine learning, cloud computing and language learning, according to its website.

Demand for online learning platforms boomed during the COVID-19 pandemic as retrenched employees took online courses to rotate into new careers.

The company said expected its shares to be listed on the New York Stock Exchange under the ticker symbol "COUR."

Morgan Stanley, Goldman Sachs, Citigroup and UBS Investment Bank are the lead underwriters for the offering.

 

(Reporting by Sohini Podder in Bengaluru; Editing by Aditya Soni)