Canal+ is moving ahead with its plans for a secondary inward listing on South Africa’s main bourse as the French entertainment firm takes control of MultiChoice Group.
As part of the process, Canal+ will first delist MultiChoice from the Johannesburg Stock Exchange, the company said in a statement on Monday. It will then start a secondary inward listing by introduction, giving South African investors access to the larger pay-TV and streaming business.
“We want our new company double listed, which was a big reason for our London listing of Canal+,” Chief Executive Officer Maxime Saada said in an interview. “This is because there is a fast-track process when you are listed in London to go to the JSE.”
In December last year, Vivendi SE listed Canal+ in London to assist the business with its plans to further expand. The combined operation will create a group with almost 40 million subscribers
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