Iconic Canadian Space Firm Targets $400 Million in IPO Return

MDA aims to sell shares for C$16 to C$20 apiece in Canada sale
Space technology firm looks to list on Toronto Stock Exchange

In this photo provided by NASA, the Canadarm2 and solar array panel wings on the International Space Station are extended during a 2007 mission.

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By Doug Alexander

March 22, 2021 at 9:55 PM UTC

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The Canadian space technology firm best known for developing the robotic arm used on the International Space Station aims to raise C$500 million ($400 million) in its stock market return.

MDA Ltd. is looking to sell 25 million to 31.25 million shares for between C$16 and C$20 each in an initial public offering in Canada, the company said Monday in a regulatory filing. The Brampton, Ontario-based firm plans to list on the Toronto Stock Exchange under the ticker symbol MDA.