CANAL+, a global media and entertainment company, has confirmed its intention to complete a fast-track secondary inward listing of its ordinary shares on the Johannesburg Stock Exchange (JSE) on 3 June 2026.
The French-based media conglomerate which already holds a primary listing on the Main Market of the London Stock Exchange (LSE), said the JSE listing will provide South African investors with a direct opportunity to invest in the group and enhance the long-term liquidity and tradability of CANAL+ shares.
Fully Fungible Shares, No New Capital Raised
CANAL+ will retain its primary listing on the LSE. Shares traded on the JSE will be fully fungible with those on the LSE, meaning investors can move freely between the two exchanges.
The company noted that no new shares will be placed or issued in connection with the secondary inward listing, and no new capital will be raised on the Listing Date.
The announcement serves as the Pre-Listing Announcement (PLA) required by the JSE for companies seeking a fast-track secondary inward listing on the prime segment of the Main Board.
A Global Media Powerhouse
Founded over 40 years ago as a French subscription-TV channel, CANAL+ now operates across three business segments: Europe, Africa and Asia, and Content Production, Distribution and other.
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Credit: REUTERS
Following its full takeover of MultiChoice Group on 5 December 2025 and the delisting of MultiChoice from the JSE on 10 December 2025, the combined group has become a major force in African entertainment.
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Over 42 million subscribers worldwide (as of 31 December 2025)
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Presence in more than 70 countries
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Approximately 15,000 employees
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23 million Pay-TV subscribers across Africa and Asia alone
The integration of MultiChoice brings iconic brands under one roof, including DStv, GOtv, M-Net, SuperSport, Irdeto, and KingMakers.
Why List on the JSE?
CANAL+ outlined four key benefits of the secondary inward listing:
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Access for South African investors – The only global entertainment and broadcasting company listing on the JSE.
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Enhanced liquidity – Improved tradability through a robust, internationally recognised exchange.
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Shareholder base diversification – Broadening the company’s geographic ownership.
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Future capital optionality – Potential to raise funds for acquisitions in a new market, though not part of the current listing.
The listing also fulfills a voluntary commitment made by CANAL+ during its acquisition of MultiChoice, accepted by the South African Competition Tribunal. The company pledged to proceed with a JSE secondary listing within nine months of MultiChoice’s delisting on 10 December 2025.
“The Listing goes beyond regulatory compliance and reflects the company’s genuine intention to maintain a meaningful presence on the South African capital market,” CANAL+ stated.
Growth Prospects in Africa and Beyond
CANAL+ sees Sub-Saharan Africa as a significant growth opportunity.
The continent’s population is expected to grow from 1.2 billion in 2026 to 2 billion by 2050, with GDP projected to expand 4.5% between 2026 and 2030.
The company noted that only 50% of households are currently electrified, and OTT penetration sits at just 4%, leaving substantial room for expansion.
Following the MultiChoice merger, the group expects to deliver over €400 million in Adjusted EBIT and over €300 million in free cash flow run-rate cost synergies annually from 2030 onwards.
Technology, AI, and Fighting Piracy
CANAL+ highlighted its investment in proprietary technology, including its state-of-the-art streaming platform and the use of AI analytics to personalise content, improve search, and enhance customer service through chatbots and virtual assistants.
On piracy, the company has developed a multi-pronged strategy using proprietary technology to block illegal streams, working with broadband providers and rights-owners. The acquisition of Irdeto through MultiChoice — a world leader in digital content protection — strengthens this effort.
Listing Date Confirmed
The secondary inward listing is scheduled for 3 June 2026, pending final JSE approval.
CANAL+ has appointed Computershare Investor Services Proprietary Limited as its transfer secretary in South Africa, with its main place of business at Rosebank Towers, Johannesburg.
