<\/p>\n
Canal+ SA rose in its debut on the Johannesburg Stock Exchange, with the secondary listing of the French media giant marking the completion of its multi-billion dollar acquisition of African pay-TV giant MultiChoice.<\/p>\n
The stock climbed to R58.50 by 9:49 a.m., higher than the reference price based on the firm\u2019s London-listed shares. Canal+ is valued at 2.5 billion pounds (R52.64 billion) and is the first French company to trade on the main board of South Africa\u2019s bourse.<\/p>\n
\u201cAfrica will be our growth engine for years to come,\u201d chief executive officer Canal + Maxime Saada said in a statement.<\/p>\n
The firm was the largest of three companies spun out of the parent business, French billionaire Vincent Bollor\u00e9\u2019s Vivendi SE, and involved a subsequent primary listing on the London Stock Exchange in December 2024.<\/p>\n
Listen: Canal+ arrives on the JSE \u2026 what to expect<\/p>\n
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Canal+ took effective control of MultiChoice in September last year, with the African pay-TV company ceasing its Johannesburg listing in December.<\/p>\n
Read:
How Canal+ will turn around battling MultiChoice
Inside Canal+\u2019s plan to cut billions in costs at MultiChoice
MultiChoice shares to delist on Wednesday<\/p>\n
The secondary listing provides South African investors exposure to the expanded global media entity. For the French firm, the move enables access to additional investors and liquidity in Africa\u2019s deepest capital market.<\/p>\n
The combined media entity will take on large US entertainment giants such as Netflix and Walt Disney on the continent. By pooling content budgets, Canal+ plans to leverage MultiChoice\u2019s sports rights, including SuperSport\u2019s English Premier League coverage, and local production capabilities to expand its offering in the region and reverse recent subscriber declines.<\/p>\n
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The listing is the second in Johannesburg this year, with Toronto-based Aimia Inc. joining the JSE\u2019s main board in February.<\/p>\n
Last year, the JSE had its best year for funds raised from IPOs since 2017, with mobile-network operator Cell C Holdings and AI-powered fintech firm Optasia Group joining the bourse in November.<\/p>\n
Read:
Optasia secures more than $300m in syndicated refinancing
Could Optasia be the \u2018next Capitec\u2019?
Cell C opens flat in muted JSE debut<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Canal #strong #JSE #debut #MultiChoice #deal<\/p>\n","protected":false},"excerpt":{"rendered":"
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