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MDA files for IPO
Posted: Fri, Mar 26, 2021, 5:54 PM ET (2154 GMT)
Canadian space technology company MDA filed paperwork Monday for an IPO. MDA said it's seeking to raise $500 million Canadian ($397 million) in that IPO, which would value the company at more than $2 billion. MDA forecast that its annual revenue will nearly quadruple to more than $1.5 billion by 2025, thanks to work on several flagship programs like the Canadarm3 robotic arm and antennas for Telesat's Lightspeed constellation. MDA says it will use the proceeds to pay down debt and invest in new projects, such as a synthetic aperture radar satellite called SARnext.
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