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Canadian Telesat lists on Nasdaq with Loral merger

Luxembourg, 25 November 2020. – Going public: Telesat becomes a Nasdaq-listed company, through the merger with Loral, the Canadian satellite operator said.

Telesat Canada has entered into an agreement with Loral Space & Communications (NASDAQ: LORL) and the Canadian Public Sector Pension Investment Board pursuant to which Telesat Canada and Loral will become subsidiaries of Telesat Corporation, a new publicly traded Canadian incorporated and controlled company, Telesat said.

The shares of Telesat will be listed on the Nasdaq Global Select Market, the market on which Loral is currently listed, and Telesat is also considering a listing on a Canadian stock exchange in connection with the closing of the transaction in 2021, the company said.

Telesat Corporation will be headquartered in Ottawa and led by Telesat Canada’s CEO Dan Goldberg. Telesat’s voting and governance provisions will ensure that the company is and remains Canadian-controlled, the company said.

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