The Ottawa-based satellite communications company Telesat is looking to go public and use the gross proceeds for its multibillion-dollar high-speed internet project.

Telesat is looking to list its shares on the Toronto Stock Exchange (TSX), and it reportedly aims to use the money raised in the offering for bringing high-speed internet to remote areas through a constellation of low-Earth-orbit satellites.

In addition, the satellite communications company also plans to make its public debut in the US equities market. Telesat will list its shares on the NASDAQ and the trading is expected to start sometime next week.

Telesat has applied to list its shares under the stock symbol TSAT on both exchanges. Potential investors interested in this stock will have to wait for the satellite communications company to file its final prospectus with the regulatory authorities.
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