{"id":57761,"date":"2021-04-07T20:45:41","date_gmt":"2021-04-07T12:45:41","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/mda-lists-on-the-toronto-stock-exchange-after-completing-ipo\/"},"modified":"2021-04-07T20:45:41","modified_gmt":"2021-04-07T12:45:41","slug":"mda-lists-on-the-toronto-stock-exchange-after-completing-ipo","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/mda-lists-on-the-toronto-stock-exchange-after-completing-ipo\/","title":{"rendered":"MDA Lists on the Toronto Stock Exchange After Completing IPO"},"content":{"rendered":"<\/p>\n<p><strong>MDA<\/strong>, the Canadian space technology company which once merged to create <strong>Maxar Technologies<\/strong>&nbsp;and was then sold off to form its own business, is now a publicly traded company after successfully completing its Initial Public Offering (IPO) today.<\/p>\n<p>MDA issued 28,571,500 common shares at $14 each, raising a total of about $400 million Canadian dollars ($317 million). The shares are listed for trade on the Toronto Stock Exchange under the symbol \u201cMDA.\u201d<\/p>\n<p><strong>BMO Capital Markets<\/strong>,<strong> Morgan Stanley Canada Limited<\/strong>, and <strong>Scotiabank<\/strong> led underwriters on the IPO. MDA granted the underwriters an option to purchase up to 4,285,725 common shares, or 15% of the total number of common shares, after the close of the IPO to cover any over-allocation positions.<\/p>\n<p>MDA used to be a combined business with satellite manufacturer <strong>SSL<\/strong> and moved out of Canada to the United States under the direction of its parent company Maxar. Then, Maxar sold off the MDA business in April 2020. In a recent interview with <em>Via Satellite<\/em>, Maxar CEO Dan Jablonsky explained the strategy behind his decision to sell off MDA.<\/p>\n<p>\u201cMDA is a fantastic business, but it wasn\u2019t as essential to our core business as we would have liked,\u201d said Jablonsky. \u201cSelling MDA helped us free up a lot of energy for the types of investments we want to make internally, narrow our focus as a management team, and get closer with our most important worldwide customer, the U.S. government.\u201d<\/p>\n<p>Since leaving Maxar, MDA has regained its footing in the Canadian space market. The company has received several government contracts and was recently contracted by <strong>Telesat<\/strong> to manufacture the phased array antennas that will be incorporated into the operator\u2019s Low-Earth Orbit (LEO) Lightspeed satellites.<\/p>\n<p>MDA CEO Mike Greenley said the IPO marks a turning point for the company. \u201cWith the rapid expansion of the global space economy over the next ten years, our world-leading expertise and capabilities are well aligned with the projected high growth sectors, such as space exploration, on-orbit servicing, space-based communications and Earth observation,\u201d said Greenley. \u201cWe have the agility of a new space company coupled with an impressive track record that makes us a partner of choice in the emerging commercial space market.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MDA, the Canadian space technology company which once merged to create Maxar Technologies&nbsp;and was then sold off to form its own business, is now a publicly traded company after successfully completing its Initial Public Offering (IPO) today. MDA issued 28,571,500 common shares at $14 each, raising a total of about $400 million Canadian dollars ($317 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":51722,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-57761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/57761"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=57761"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/57761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/51722"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=57761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=57761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=57761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}