New era for DStv-owner in South Africa
Canal+ has been listed on the Johannesburg Stock Exchange (JSE), months after officially purchasing Multichoice in a deal worth over R50 billion.
Canal+ has listed on the JSE via a secondary listing, with the company offering a direct investment opportunity for South African investors.
Canal+ is on the JSE’s Main Board and is a secondary listing for the French broadcaster. The company is already listed on the London Stock Exchange (LSE).
After acquiring Multichoice, Canal+ said that it would list on the JSE, ensuring that South African investors have direct, rand-denominated access to the media company.
Canal+ is a global media and entertainment company with operations in 70 countries. It has over 15,000 employees. In Europe, it has over 18 million subscribers across 12 countries.
In Africa, the company has 23 million subscribers across more than 40 African countries, and it offers content in over 50 languages.
The listing on the JSE forms part of its strategy to expand its presence in high-growth markets, especially in sub-Saharan Africa.
Sub-Saharan Africa’s population is expected to increase by 800 million by 2050, with GDP growth of 4.5% forecast for 2026-2030.
There is also heightened demand for content and connectivity, which Canal+ is targeting. The new listing will also increase the stock’s liquidity
“Joining the Johannesburg Stock Exchange is a statement of our ambition and illustrates our belief in Africa’s future and its creative industry,” said Maxime Saada, CEO of Canal+.
“We are proud to become the first French company ever to list in Johannesburg and the only global media and entertainment company listed on the exchange.”
Saada said that the dual listing reinforces the company’s ambition to be a bridge between Europe and Africa.
He added that the group generates €9 billion in annual revenue and that Africa will now be the group’s growth engine for the coming years.
“By welcoming African investors, we deepen our roots, diversify our investor base and lay the foundation for the next phase of our growth,” said Saada
Boost for the JSE
The listing is good news for the JSE, which has seen a remarkable drop in the number of listed entities over the last two decades.
For the bourse, the listing forms part of its focus on deepening market liquidity, diversifying the exchange across globally relevant sectors, and connecting local investors to international companies.
“Canal+’s listing on the JSE is an important milestone — not only for the company, but for the continued internationalisation of African capital markets,” said Valdene Reddy, Group CEO of the JSE.
“It reflects the growing connectivity between African and global markets and reinforces the role of the JSE as a platform through which international companies and investors can participate in the continent’s long-term growth story.”
The listing is also a boost for the JSE following its recent regulatory enhancements, which included improvements to its fast-track secondary listing process.
With the listing, the JSE’s total number of companies stands at 263, with a combined market capitalisation exceeding R25.2 trillion.
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