The company began trading on Monday, February 8, 1999 on the Toronto Stock Exchange. The Shares placement was at $9.25 but the shares were in such demand that they opened well above this price at $13.10 and closed their first day of trading at $13.24." The IPO also allowed Newbridge Networks to sell a portion of its ownership, cutting it from 37% to 17%. By march the company announced that its stake had fallen to 10.3%. By September 1999 the companies had completed a secondary offering of one million shares for $15.6 million and the stock was trading at $17.25. The company also announced plans to move into a mixed-retail and office space campus in the Kanata Centrum Area which never came to fruition.