U.S. Book Publisher Considers an IPO in Canada

These days, as book publishers resort to cheering themselves up with homilies like "flat is the new up," here's yet another sign that pay-to-publish firms are booming: Lulu.com, a publishing company in Raleigh, N.C., that lets authors publish their own books and sell them directly to their audiences, is set to launch an initial public offering. The IPO is planned for Canada and is worth approximately $48.25 million. Helping take Lulu public are underwriters Genuity Capital Markets and CIBC World Markets, Dow Jones Newswire has reported.