Canal+ Rises to 58.50 Rand in Johannesburg Debut as MultiChoice Deal Concludes
Updated
Updated · Bloomberg · Jun 3
Canal+ Rises to 58.50 Rand in Johannesburg Debut as MultiChoice Deal Concludes
3 articles · Updated · Bloomberg · Jun 3
Summary
Canal+ shares climbed to 58.50 rand by 9:49 a.m. in their Johannesburg Stock Exchange debut, opening above the reference price derived from the company’s London-listed stock.
The secondary listing marks the completion of Canal+’s multibillion-dollar acquisition of African pay-TV group MultiChoice, tying the market debut directly to the takeover’s close.
At that level, Canal+ was valued at about 2.5 billion pounds, or $3.4 billion.
The listing also makes Canal+ the first French company to trade on the main board of South Africa’s bourse, extending its presence in a key African media market.