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Summary
- Stocks of online education platform Coursera Inc are all set to hit the New York Stock Exchange (NYSE) on Wednesday, March 31.
- The debut comes after the company launched its initial public offering (IPO) on Tuesday to raise gross proceeds of US$ 519 million.
- An open online course provider based in California, US, Coursera put up an aggregate of 15.73 million shares at a price of US$ 33.00 apiece at its IPO.
Stocks of online education platform Coursera Inc are all set to hit the New York Stock Exchange (NYSE) on Wednesday, March 31, under the ticker of ‘COUR’. The debut comes after the company launched its initial public offering (IPO) on Tuesday to raise gross proceeds of US$ 519 million.
So, what do the debutant stocks of Coursera look like? Let’s find out.
Coursera Inc IPO & Stock Details
An open online course provider based in California, US, Coursera put up an aggregate of 15.73 million shares at a price of US$ 33.00 apiece at its IPO. The offering included 14.66 million shares from Coursera itself and more than 1.065 million shares from the selling stockholders.
Coursera’s IPO, which is expected to close on April 5, saw a host of underwriters headed by book-running managers Morgan Stanley and Goldman Sachs, with UBS Investment Bank and Citigroup acting as additional bookrunners.
©Kalkine Group 2020
The California-based company had initially quoted an IPO share price in the range of US$ 30 to US$ 33, before setting it at the top of a marketed range.
Based on the outstanding shares mentioned in Coursera’s filings with the US Securities and Exchange Commission (SEC), its market value is expected to be about US$ 4.3 billion. Its fully diluted valuation, however, could rise beyond US$ 5.4 billion if employee stock options and restricted stock units are included.
Coursera Financials
Coursera claims to have collaborations with over 200 universities and other educators for all the courses, certification and programs that it offers.
With the lockdown triggering a rise in remote leaning over the past year, Coursera saw a spike in its demand too. Its revenue climbed from US$ 184 million in 2019 to a total of US$ 294 million in 2020, as per its SEC filings.
©Kalkine Group 2021
Coursera also recorded a net loss rose of US$ 67 million last year, up from US$ 47 million in 2019.
Prior to the IPO, Coursera is said to have generated a total of US$ 443.1 million in about 13 rounds of funding, as per Crunchbase.
While economies are slowly beginning to reopen, lockdowns keep coming back with rising coronavirus infections. Amid such uncertainties, online services are likely to stay in demand in the near future. So it is possible that platforms such as Coursera could see an upward bend in its performance, making it an attractive stock for long-term gains.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
