Online educator set for IPO
Perth-based online education company iCollege is set to list on the Australian sharemarket this month after revelling it was days away from completing a delayed $2.5 million raising to fund its global expansion.
The company, which in December announced plans to backdoor list through the shell of failed Perth-based technology company DGI Holdings, said yesterday it should have the $2.5 million wrapped up by Friday with the "majority" of investors committed to the raising.
The company was forced to extended its deadline to raise the money for the second time yesterday but those close to the com- pany indicated the delay was simply to allow the funds to clear.
iCollege managing director Victor Hawkins said the com- pany distinguished itself from other education-focused businesses by offering its courses exclusively online.
"It gives the student flexibility," Mr Hawkins said.
"Whereas in the past you needed to sit behind your desk and complete a course, the devise manufacturers, such as Apple's iPad, allow that to happen quite mobile now.
"We're not pathway educa- tors and traditional bricks-and-mortar educators, we're 100 per cent online, and that's our difference."
Mr Hawkins said the company hoped to offer 15 business-related courses when it went live, which was expected in about three months.
