JOHANNESBURG, June 3 – French media and entertainment company Canal+ made its debut on the Johannesburg Stock Exchange (JSE) on Wednesday, marking the completion of its multibillion-dollar acquisition of African pay television operator MultiChoice.
The stock rose in early trading, reaching 58.50 rand during its first session on the exchange, trading above the reference price derived from its London-listed shares.
The company is currently valued at approximately £2.5 billion ($3.4 billion) and becomes the first French company to secure a listing on the main board of the Johannesburg Stock Exchange.
The secondary listing represents a significant milestone for Canal+ as it deepens its presence in Africa’s rapidly evolving media and entertainment industry.
The listing follows the successful completion of Canal+’s acquisition of MultiChoice, one of the continent’s largest pay television providers, giving the French broadcaster greater access to millions of subscribers across Africa.
The transaction forms part of Canal+’s broader strategy to expand its international footprint and strengthen its position in fast-growing emerging markets.
Commenting on the development, Group Chief Executive Officer and Executive Director of the Johannesburg Stock Exchange (JSE), Valdene Reddy described the listing as a significant moment for both the company and African capital markets.
According to Reddy, the move reflects Canal+’s long-term commitment to the African market while highlighting the increasing importance of the continent’s financial markets within the global investment landscape.
She noted that the transaction reinforces the JSE’s role as a gateway for international companies seeking exposure to African growth opportunities and investors looking to participate in the continent’s economic development.
The listing also underscores growing investor interest in Africa’s media, telecommunications and digital content sectors, which continue to benefit from rising consumer demand, urbanization and expanding connectivity across the continent.
For Canal+, the acquisition of MultiChoice provides a stronger platform to compete in Africa’s increasingly competitive entertainment market, where traditional broadcasters are adapting to changing consumer viewing habits and growing demand for digital streaming services.
The deal positions the combined group as one of the largest media and content distribution businesses operating across Africa, with a footprint spanning numerous markets and millions of households.
