MDA Space to raise $300-million in stock sale, add U.S. stock listing

MDA Space Inc. plans to raise US$300 million through a stock offering and list its shares on the New York Stock Exchange to fund growth initiatives. The raise and U.S. listing should broaden the investor base and improve liquidity for the Canadian satellite manufacturer, though it will likely dilute existing shareholders and primarily move the company's stock rather than the wider sector.

Analysis

MDA Space Inc. plans to raise US$300 million through a stock offering and list its shares on the New York Stock Exchange to fund growth initiatives. The raise and U.S. listing should broaden the investor base and improve liquidity for the Canadian satellite manufacturer, though it will likely dilute existing shareholders and primarily move the company's stock rather than the wider sector.