D2L IPO: How to buy Waterloo-based online learning platform’s stock?

Highlights

  • D2L is all set to go public in Canada and is expected to list its shares on the Toronto Stock Exchange.
  • Established in 1999 by John Baker, D2L has emerged as one of the leading private software companies.
  • Investors are searching for the D2L stock ever since reports surfaced that the Waterloo-based company was going public.

The Kitchener-based online learning platform, D2L, is all set to go public in Canada and join the list of technology companies in Canada that have gone public in the recent past. Formerly known as Desire2Learn, the education technology company will reportedly file a prospectus with a Canadian regulator and expects to raise a nine-figure sum through the offering of common shares.

Sometime in the past two weeks, D2L's board has reportedly given the nod for the initial public offering that could value the company at more than US$1 billion.

Established in 1999 by John Baker, D2L has emerged as one of the leading private software companies and its technology is being used in several sectors like corporate associations, schools, and higher education institutions.

In just over 20 years, the online education company has expanded its presence to the United States, Singapore, Australia, Europe, and Brazil.

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How to buy the D2L stock?


The D2L stock will most likely be available to the investors in a few weeks and it is hoping to go public on the Toronto Stock Exchange. TD Securities and BMO Capital Markets will reportedly lead the underwriting for the IPO and other underwriters would be Canaccord Genuity, National Bank Financial, and Raymond James among others.

Canada has witnessed many IPOs of tech companies since the outbreak of the coronavirus pandemic. Since July 2020, 14 tech companies have gone public on the TSX. 

Unlike the older days when retails investors couldn't get hold of the pre-IPO shares, now they have an option of trying their luck to grab the shares of a company before the common shares start trading in a stock market. Through trading platforms of a brokerage company, retail investors have the option of booking pre-IPO shares and they are generally allotted through a lottery system.

Alternatively, some stockbrokers may also provide these shares. However, pre-IPO stocks may not be available for all companies and potential investors should research before planning to invest.

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Bottom line

D2L's growth has been impressive, and it accelerated during the pandemic as the world shifted to online learning amid public health restrictions and lockdowns. According to reports, during the early months of the pandemic, the online education company recorded a 200 per cent surge in new bookings in comparison to 2019.

According to the company’s website, D2L is trusted by at least 14.5 million learners across the world. The company serves 1000 customers in over 40 countries and its platform is based on modern cloud technology.

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As online learning is expected to boom further in the coming years, D2L could see a surge in its demand and expand its business operations.

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