(Bloomberg) -- D2L Inc., the operator of the Brightspace online-learning platform, is seeking to raise about $160 million in an initial public offering that values the company at as much as C$1.13 billion ($914 million). 

The Canadian company is planning to sell 9.52 million to 10.5 million shares, priced at $19 to $21 apiece, according to a filing on Monday. The underwriters will have an option to sell an additional 1.43 million to 1.58 million shares within 30 days. D2L plans to list on the Toronto Stock Exchange under the symbol DTOL.

With its offering, D2L is taking advantage of a strong market for technology IPOs and rising demand for remote-learning tools during the pandemic. 

IPOs by similar companies have been successful this year. In July, education-software provider PowerSchool Holdings Inc. raised $711 million in a U.S. IPO that valued it at $3.47 billion, and language-learning app Duolingo Inc. raised $521 million at a valuation of more than $6 billion. Both companies’ shares have risen since their offerings.

Assuming the over-allotment isn’t exercised, the company will have 26.4 million subordinate voting shares and 27.4 million multiple voting shares outstanding after the offering. Founder and Chief Executive Officer John Baker will control about 52% of the total issued and outstanding shares and have 91% of the voting power attached the shares, giving him “significant influence” on the company, the filing said.

Baker founded Kitchener, Ontario-based D2L in 1999 as a student at the University of Waterloo. D2L’s main product is the D2L Brightspace online-learning platform. The company said it had more than 15 million users, including students, instructors and administrators, as of Aug. 31.

The offering is being led by TD Securities Inc. and BMO Nesbitt Burns Inc. Also included in the syndicate are Canaccord Genuity Corp., Raymond James Ltd., RBC Dominion Securities Inc., National Bank Financial Inc. and Eight Capital.

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