The Ottawa-based satellite maker is going public via a new holding company that will replace New York-headquartered Loral Space & Communications, which currently owns a 62.7 per cent economic interest in the firm, on the exchange. The company’s existing shareholders, including PSP Investments (which has 36.7 per cent), will take proportional stakes in the holding company. (The Logic) 

Talking point: Telesat said it will now be able to raise capital directly from the public markets to fund its low-Earth orbit (LEO) satellite constellation, a project that CEO Dan Goldberg said on an earnings call earlier this month will cost “multiple billions of dollars” in capital expenditure. The company expects to raise a third of that via equity, and two-thirds by issuing debt. Telesat has previously delayed the selection of manufacturers for its LEO satellites; in July, vice-president Erwin Hudson told The Logic a decision was due “in the next few months,” and the company was ready to begin building as soon as that happened thanks to advance design work.