(Reuters) – French audiovisual group Canal+ announced on Monday that it was planning a secondary listing on the Johannesburg Stock Exchange (JSE) in South Africa, following its acquisition of local broadcasting giant MultiChoice.
Canal+ finalized the operation in September, which constitutes the largest acquisition in its history and marks a turning point in the African media landscape, likely to reshape the broadcasting system on the continent.
The combined entity now serves more than 40 million subscribers in nearly 70 countries.
Dual or secondary listings have been gaining ground in recent years as companies seek to broaden their investor base and increase their valuation against competition.
The London Stock Exchange, where Canal+ will retain its primary listing, offers a category called “Secondary Listing”, with lighter regulations, intended for foreign companies or British companies wishing an additional listing abroad.
A secondary listing will help preserve access for South African investors and market liquidity, Canal+ said in a press release.
The company will delist MultiChoice’s shares from the JSE and then proceed with a secondary listing of its own shares, subject to regulatory approvals.
Canal+, split from Vivendi and listed on the London Stock Exchange last December, aims to become a global content platform, with Asia and Africa as priority markets.
The group said the integration of MultiChoice had already started and that it would present its detailed plans to the market in the first quarter of 2026.
(Written by Leo Marchandon and Gianluca Lo Nostro in Gdansk; Noémie Naudin, edited by Augustin Turpin)
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