MultiChoice owner Canal+ debuts on JSE in secondary listing

(Alliance News) - Canal+ SA on Wednesday listed on the Johannesburg Stock Exchange, becoming the first ever French company to list on the bourse.

The Paris-based media and entertainment group took over MultiChoice Group Ltd early in December last year, resulting in the delisting of the Johannesburg-based entertainment company that owns DStv.

Canal+ now has a secondary listing on the JSE, and has retained its primary listing on the London Stock Exchange, where it debuted in December 2024. It was unbundled from Paris-based media and entertainment firm Vivendi SA.

"Joining the Johannesburg Stock Exchange is a statement of our ambition and illustrates our belief in Africa's future and its creative industry," Canal+ Chief Executive Officer Maxime Saada said.

"Following our listing on the London Stock Exchange 18 months ago, this dual listing reinforces our ambition to be a bridge between Europe and Africa and anchors our dual-continental approach, consolidating our unique position in the global media and entertainment industry," Saada added.

"We are proud to welcome Canal+ to the JSE and to mark the first listing of a French company on our exchange," JSE CEO Valdene Reddy said, adding: "We look forward to supporting Canal+ in this next chapter as a listed company on the JSE."

Shares in Canal+ rose 2.1% to 259.40 pence in London on Wednesday. In Johannesburg, shares ended at ZAR56.50, with a market capitalisation of ZAR56 billion.

By Artwell Dlamini, Alliance News senior reporter South Africa

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