Mitel Networks Corp. (TSX:MNW) began trading at the Toronto Stock Exchange on Wednesday, a return of sorts for one of the pioneers of Canada’s telecom technology industry.
The Ottawa-based company is a global provider of business communications services, software services, IP telephony platforms, mobility applications and network services.
A predecessor of the company was also publicly traded on Canada’s largest stock exchange before Mitel was purchased in the 1980s and taken private. It has since gone through numerous transformations, including its split from Zarlink Semiconductors several years ago.
“Mitel has long roots as a technology pioneer in Canada and we are excited to be able to extend trading of our shares to the Toronto Stock Exchange and to expand our shareholder base,” said president and CEO Richard McBee.
“We are confident that our story and our success will resonate with Canada’s investment community,” McBee said in a news release.
Mitel has listed its shares on the Nasdaq stock market in the United States since June 2010 under the symbol MITL. In Toronto, they’ll have the symbol MNW.
The company was founded in 1973 and is one of Canada’s early technology success stories, selling office phone systems to companies and public sector agencies around the world.
The shares traded Wednesday at US$4.28 on Nasdaq at C$4.52 on the TSX.
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