Corel has revealed plans to become a public company once again.

The company has filed government documents to sell stock in both the US and Canada.

Morgan Stanley will act as lead manager for Corel's IPO, with JPMorgan, Deutsche Bank, Piper Jaffray, CIBC World Markets and Canaccord Adams acting as co-managers, according to the company.

According to the SEC filing, company revenue for the three months ended February 28, 2006 was $44.3 million, a 2.5 per cent increase over the same time period in the previous year, when revenue was $43.2 million. Income in the period was $5.7 million.

Corel, founded in 1985, was once well known as a pioneer in word-processing and graphics software. But the company, which went public for the first time in 1989, began fading from view in the late 1990s as Microsoft Office became the de facto standard for word processing and other office productivity applications.

The company tried a different tack and embraced Linux in its early days, but then-Corel CEO Michael Cowpland became embroiled in an insider-trading scandal. He eventually reached a settlement over the charges with Canadian authorities.

Three years ago San Francisco-based venture capital firm Vector Capital purchased Corel and took the company private, and it has slowly been growing its business in the interim.