French broadcasting group Canal+ announced on Monday plans for a secondary listing on the Johannesburg Stock Exchange (JSE) after completing its $2 billion acquisition of South African broadcaster MultiChoice.
The September deal added MultiChoice’s extensive African subscriber base to Canal+’s portfolio, with the combined entity now serving over 40 million subscribers across nearly 70 countries.
Canal+ said the secondary listing would maintain South African investor access and market liquidity. As part of the process, MultiChoice’s shares will be delisted from the JSE before Canal+ carries out its secondary listing, subject to regulatory approvals.
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Dual and secondary listings have become increasingly popular as companies seek to broaden investor bases and enhance valuations amid global competition. Canal+ retains its primary listing on the London Stock Exchange, which offers a “Secondary Listing” category with light-touch regulation for overseas companies or UK firms seeking an additional foreign listing.
Spun off from Vivendi and listed in London last December, Canal+ aims to become a global content platform with Asia and Africa as priority markets. The group said integration of MultiChoice had begun and that detailed plans would be shared with the market in the first quarter of 2026.
