Loral buys back own shares

Loral Space & Communications says it may be buying back up to 800,000 of its own NASDAQ shares for cancellation. There’s no set timetable for the purchase, and the buy-back will depend on the market price and availability of stock.

Loral has 21.2 million voting common shares outstanding and 9.5 million non-voting shares outstanding as at October 31st.

Loral has two business segments: satellite manufacturing and satellite services. Loral’s Space Systems/Loral unit designs and manufactures satellites, space systems and space system components for commercial and government customers whose applications include fixed satellite services, direct-to-home broadcasting, mobile satellite services, broadband data distribution, military communications, weather monitoring and air traffic management.

Loral itself participates in satellite services operations principally through its 64 per cent investment in Telesat Holdings Inc. (Telesat Holdco), which owns Telesat Canada (Telesat).