Telesat to turn into a public company in the coming week in the middle of Lights

Posted by Kapil on November 19th, 2021

Beginning of Public Trading for Telsat

TAMPA, FLORIDA — Telesat, a Canadian satellite operator, is to begin publicly selling shares next week. This will expand the pool of potential finance for its billion low-Earth-orbit Lightspeed broadband network, which has been delayed.

Following a two-day closing process, Telesat plans to complete its merger with Loral Space & Communications, a major shareholder that currently trades on the Nasdaq, on Nov. 19.

If the transaction goes through as planned, the business will be listed on a US stock exchange. The Toronto Stock Exchange (TSX) has yet to confirm that it will be able to trade shares in Canada.

Although Telesat will not be raising funds through the process, being “publicly listed will provide us access to the public equity markets for expansion initiatives, like Telesat Lightspeed,” according to a Telesat official.

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