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Coursera Inc sets the price of shares at $33 per share for its IPO debut

By Pavankumar on Mar 31, 2021 | 02:31 AM IST

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On Tuesday, Coursera Inc [COUR] announced the price for its shares in its initial public offering (IPO). The Online education provider has priced the shares for the IPO at $33 apiece in New York. The price of $33 per share, the higher end of its target range would give the company a valuation of about $4.30 billion.

The company said it would be able to raise around $519 million through its IPO at the price range of $33 per share. The COVID-19 pandemic had led to most of the education centers being closed, stopping the knowledge gaining process. The people then started to move for online-based courses to increase their knowledge. Mountain View, California-based Coursera was among the companies to have benefited from a surge in demand for online learning platforms during the COVID-19 pandemic. Coursera’s platform, used by more than 3,700 colleges and universities, offers courses on machine learning, cloud computing, and language learning. 

The company had reported that its revenue rose 59% to $293.5 million for the year ended Dec. 31, 2020, in March while filing for the IPO. Coursera said in a statement, the IPO includes around 14.7 million shares of its common stock. It further added that its selling shareholders were offering around 1.1 million shares. The company’s shares will be listed on the New York Stock Exchange under the ticker symbol “COUR.”

Morgan Stanley [MS], Goldman Sachs [GS] are the lead underwriters for the offering, while Citigroup and UBS Investment Bank are acting as the additional bookrunners.


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