Telesat OK to trade on Nasdaq
August 26, 2021
By Chris Forrester
Ottawa-based satellite operator Telesat will be able to trade under its own name on the Nasdaq exchange later this year. The delay is down to its somewhat complex ownership structure.
Telesat is part-owned by Loral Space & Communications (which is already quoted on the US Nasdaq). Loral’s shareholder approved the move on August 23rd whereby Telesat becomes a public company and will take the place of Loral on the Nasdaq later this year.
Achieving the public quote satisfies a Canadian government requirement and secures the government’s recent investment commitments to Telesat.
Telesat needs the Canadian government cash – and capacity orders – to help fund its Lightspeed constellation of almost 300 low Earth orbiting (LEO) satellites. These are being built by Thales Alenia Space and will incorporate inter-satellite laser links with 10 Gb/s of bi-directional capacity. This would be a first – and the largest – for any of the LEO constellations.