CANAL+ Lists in Johannesburg as First French Firm, Boosts South African Bourse
CANAL+ Debuts on Johannesburg Stock Exchange
By Nqobile Dludla and Lulah Dube
Historic Listing and Market Performance
JOHANNESBURG, June 3 (Reuters) - Shares of pay-TV group CANAL+ rose on its Johannesburg Stock Exchange trading debut on Wednesday, when it became the first French company to list in South Africa following a deal with local broadcaster MultiChoice Group last year.
The company, which has a primary listing in London, climbed to 58.50 rand at market open
Background: MultiChoice Acquisition and Strategic Expansion
At the time of CANAL+'s acquisition of MultiChoice in 2025, it said it would have a secondary listing in South Africa, providing a boost for Johannesburg's stock exchange, which has suffered from a series of departures and few high-profile joiners in recent years.
CANAL+, which had a market capitalisation of £2.25 billion (51 billion rand) on the day prior to its pre-listing announcement on May 12, is the only global media and entertainment group on the exchange.
Global Ambitions and African Market Focus
Its move into English-speaking Africa reflects its stated ambition to become a global entertainment platform across Europe, Africa and Asia.
Leadership Perspectives and Market Impact
CEO Maxime Saada on Strategic Alignment
CEO Maxime Saada said the Johannesburg secondary listing aligns the group's capital, government relationships and creative resources with African investors, partners and audiences.
"Our hope is for this listing to enhance the liquidity of our shares, to broaden our shareholder base and to support our growth ambitions. But more than that, we believe that we can create value in Africa," he told spectators before blowing into a Kudu horn to signal the company's market debut.
JSE Chairman on Global Confidence
JSE chairman Phuthuma Nhleko said the listing reflects strong global confidence in South Africa's capital markets, reinforcing the bourse's role in linking international capital with African growth opportunities, and highlights continued belief in the continent's long-term prospects.
(Reporting by Nqobile Dludla; editing by Barbara Lewis)
