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Summary
- Investors often keep an eye out for new and upcoming listings debuting on the stock markets.
- A Canadian space tech company is reportedly looking into getting listed on the Toronto Stock Exchange (TSX) to raise capital for new projects.
- An Edmonton-based vegan goods firm recently held a private placement financing, offering over 15 million special warrants at a price of C$ 0.05 each, to raise a capital of C$ 7.7 million.
Investors often keep an eye out for new and upcoming listings debuting on the stock market. While some initial public offerings (IPO) launch with a bang, others enter the public equity world quietly. And so, keeping a tab on them could get a little bit tricky. So here is a detailed profile of two Canadian companies that are making a buzz with their IPO reports – MDA Inc and Nabati Foods Global Inc.
Let’s dive in to find out what we know about the iconic Canadian space tech firm and the up-and-coming vegan food producer.
MDA Inc
Canadian space technology company MDA Inc filed for an initial public offering on Monday, March 22. According to media reports quoting anonymous sources, owner Northern Private Capital is looking into getting MDA listed on the Toronto Stock Exchange (TSX) to raise capital for new projects and paying its down debt.
MDA also confirmed that a group of banks is being headed by Bank of Montreal, Bank of Nova Scotia and Morgan Stanley for its public listing procedures.
Originally founded as ‘MacDonald, Dettwiler and Associates’ in 1969, MDA has made a place for itself in the global space technology sphere over the decades. The Canadian Space Agency (CSA) notes that MDA’s remote-controlled mechanical arm Canadarm2 has been serving the International Space Station since 2001.
©Kalkine Group 2020
The Brampton-based company merged with American space imagery vendor DigitalGlobe Inc in 2017 to form Maxar Technologies Inc, and shifted its base to Colorado, US. In 2020, it returned to Canadian control after Toronto-based investment firm Northern Private Capital purchased MDA’s assets from Maxar for a price of C$1 billion and rebranded it as MDA.
The CSA awarded a roughly C$22.8-million project to MDA in December 2020 to build the Canadarm3 for the NASA-led Lunar Gateway Program.
Nabati Foods Global Inc
Plant-based food producer Nabati Foods Global Inc recently held a private placement financing, offering over 15 million special warrants at a price of C$ 0.05 each, to raise a capital of C$ 7.7 million.
The proceeds from this funding will reportedly go towards Nabati’s public listing transaction, global expansion of its business and long-term growth plans.
The company is also undergoing internal restructuring ahead of its IPO. Formerly known as ‘Nabati Foods Inc’, it recently rebranded itself as Nabati Foods Global and is also on the course of transferring its headquarters to Vancouver from Edmonton, where it was founded in 2014.
Nabati announced in a recent press release that it is planning to launch an IPO on the Canadian Stock Exchange (CSE), which currently has a strong growing of vegan lifestyle startups such as The Very Good Food Company, Modern Meat, etc.
©Kalkine Group 2020
