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How to buy Sangoma Technologies Corporation (STC) stock in Canada

Here's everything we know so far about the Sangoma Technologies Corporation IPO.

On November 17, 2021, Sangoma Technologies Corporations announced it was cancelling its plans to have an IPO on the Nasdaq. The company's stock continues to be traded on the TSX under the ticker symbol "STC."

Here's what we know about the IPO so far and how to buy Sangoma Technologies stock in Canada.

What we know about the Sangoma Technologies Corporation IPO

On November 15, 2021, Sangoma Technologies—a voice and Unified Communications (UC) solution provider headquartered in Canada—filed a prospectus with the US Securities and Exchange Commission (SEC) to go public.

It had planned to offer 5.5 million stocks on the Nasdaq Global Select Market under the ticker symbol "SANG." Stocks were expected to begin trading the week of November 22, 2021.

Just several days later, on November 17, Sangoma announced it was cancelling the IPO. A statement on GlobeNewswire confirmed the reason for the withdrawal. "At current share price levels, the offering is no longer attractive to the Company or its shareholders."

No date has been announced for a future IPO in the US. Sangoma Technologies stock continues to trade on the Toronto Stock Exchange under the ticker symbol "STC."

We'll updated this page as more information becomes available.

Note: all dollar amounts on this page are in US dollars unless otherwise stated.

How to buy shares in Sangoma Technologies Corporation

Before you can invest in Sangoma Technologies Corporation, you'll need to open a brokerage account.

  1. Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Sangoma Technologies Corporation. Find the stock by name or ticker symbol: STC. Research its history to confirm it's a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Sangoma Technologies Corporation reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy a fractional share of Sangoma Technologies Corporation, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of Sangoma Technologies Corporation. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

Tax implications of buying US stocks in Canada

Agreements between Canada and the US require Canadians holding US stock investments to pay the US Internal Revenue Service (IRS) a 15% withholding tax on any dividends earned on their US stocks. Interest earned from bonds or other interest-yielding US investments are similarly taxed at a rate of 10%.

An exception is made for stock investments held in trust exclusively designed to provide retirement income. Such trusts include RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs are also exempt from US withholding tax if you own US investments in the form of US stocks, bonds or ETFs.

Investment accounts that do not qualify for this exemption include RESPs, TFSAs and RDSPs.

All income from investments, including foreign investments, must be declared as part of your income on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be double taxed on those earnings — first by the IRS, then by the CRA. However, the CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.

Speak with a tax professional to find out what rules and exceptions apply to your circumstances.

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Note: The dollar amounts in the table below are in Canadian dollars.

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