SpaceQ Space news and analysis.
When MDA was acquired by Northern Private Capital (NPR), SpaceQ interviewed its CEO Andrew Lapham who told us that the likely result of the investment would be an initial public offering (IPO). A report in today’s Globe and Mail states that the expected IPO filing will happen within days.
The IPO was expected, but the timing was always going to be based on taking advantage of the right market. With optimism returning as people see a possible return to some normalcy with a COVID-19 vaccine being rolled out, and with technology IPO’s being hot again, the timing for MDA seems to be now.
The Globe states that “BMO Capital Markets, Scotia Capital Inc. and New York-based Morgan Stanley are among the investment dealers leading the IPO, according to five sources working on the offering.”
The listing according to the Globe would only be on the Toronto Stock Exchange. That does not come as surprise as NPR has always been focused on building a strong Canadian space company focused on advancing Canadian technology at home and for foreign markets.
