By listing on the Johannesburg Stock Exchange, CANAL+ seeks to expand its investor pool and increase market liquidity. The broadcaster has also secured lucrative sports broadcasting contracts through its partnership with SuperSport.
Canal+, a pay-TV group listed as CAN.L, has expressed optimism about reviving fortunes of MultiChoice, a South African broadcaster facing difficulties, according to its CEO's statement made on Wednesday. This marked a significant milestone for Canal+ as it became the first French company to list on the Johannesburg Stock Exchange.
Related ↗IDR survey reveals UK pay settlements remain steady at 3.5% for a second consecutive month.When acquiring MultiChoice in 2025, CANAL+ had pledged its support for listing on the South African market, thereby injecting new life into the Johannesburg stock exchange, which has faced significant challenges due to a string of exits and a scarcity of prominent entrants over the past few years.
Throughout the day, the stock hovered closely around its initial listing value of 58.50 rand.
Read next ↗Gulf region stock markets decline sharply today suddenly.A key component of this French company's expansion plan involves establishing a presence in English-speaking Africa as part of its broader international ambitions.
After acquiring MultiChoice, CANAL+ exposed the extent of difficulties facing their South African subsidiary, which is experiencing significant subscriber losses, and announced a €100-million ($116-million) investment to revamp operations.
Chief Executive Maxime Saada expressed unwavering confidence in the company's turnaround prospects during a post-listing press conference.
As part of its expansion plans, CANAL+ is forging stronger ties with international streaming providers, such as Netflix (NFLX.O), in the French-speaking African market. The company is also investigating potential collaborations for its upcoming "super app", which will consolidate various streaming services like MultiChoice's DStv onto a single platform, according to Saada.
Major media conglomerates have expressed significant interest in listing on the Johannesburg stock exchange, with key executives from Apple and Warner Bros Discovery reaching out soon after the MultiChoice acquisition was publicly disclosed.
On Wednesday, the company announced fresh premium sports broadcasting agreements for soccer and rugby to boost high-end subscriber numbers.
Canal+, a pay-TV(CAN.L)listed as CAN.L, has expressed optimism about reviving fortunes of MultiChoice, a South African broadcaster facing difficulties, according to its CEO's statement made on Wednesday. This marked a significant milestone for Canal+ as it became the first French company to list on the Johannesburg Stock Exchange.
12French Firm Enters Johannesburg Market
Saada emphasized that the company's Johannesburg listing aims to harmonize its financial foundation, diplomatic connections, and innovative projects with local interests in Africa, as the JSE launch was commemorated with a traditional kudu horn fanfare yesterday.
The company's goal is to increase share liquidity, expand its investor pool, and fuel future expansion plans through this listing. We're confident that our presence will bring tangible benefits to the African market.
CANAL+ stands out as a singular media entity listed globally.
Phuthuma Nhleko, JSE chairman, emphasized that the listing signifies robust faith in South Africa's financial markets worldwide, thereby solidifying the exchange's position as a conduit for global investment in Africa's development prospects.
