Lulu Stock Going Public in Canada

The Wall Street Journal is reporting that Lulu.com, the Raleigh based self-publishing company, is possibly going public in the Canadian Stock Markets.

The company’s Chief Executive Bob Young, co-founder of Red Hat Inc., is Canadian which is more than likely the reason for this push in the Canadian markets. It looks to be a big step forward and 2010 could be a big year for the company.

Lulu moved into a newly renovated building on Hillsborough Street back in March of 2009.

Lulu.com is targeting about C$50 million from a planned initial public offering and the self-publisher has hired Genuity Capital Markets and CIBC World Markets as the issue’s leading underwriters, according to industry sources.

Lulu.com is eyeing an IPO at a time when Canadian equity markets have been strong and, more importantly, the IPO market has showns signs of revival. In 2009, Canadian exchanges saw a total of 28 new issues worth C$1.8 billion, compared with the C$682 million raised from 57 new issues in 2008, according to PricewaterhouseCoopers.

Still, Lulu.com could face some challenges since it’s considered by some to be a concept stock.

Some examples of Lulu’s published products

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