The MultiChoice Group plans to list and start trading shares on the JSE on Wednesday 27 February 2019 with Calvo Mawela, MultiChoice Group CEO, saying the company is focused on growth pay-TV opportunities across Africa.
The MultiChoice Group made the announcement on Monday evening after local markets had closed for the day.
Naspers and its pay-TV arm MultiChoice announced in 2018 that it plans to spin-off The MultiChoice Group as a separate company and to list it on the Johannesburg Stock Exchange.
In September 2018 it was announced that The MultiChoice Group will include MultiChoice South Africa, MultiChoice Africa, its video streaming service Showmax, as well as the global digital platform security provider Irdeto.
Now The MultiChoice Group plans to list on 27 February 2019 in the "broadcasting and entertainment" sector of the JSE.
"We believe the listing of MultiChoice provides an excellent opportunity to invest in the leading provider of video entertainment on the African continent," says Calvo Mawela in a statement on Monday announcing the 27 February JSE date.
"The MuliChoice Group brings an incomparable local and international content offering to around 14 million households and is one of the fastest growing pay-TV broadcast providers globally."
"With strong financials, the flexibility of an ungeared balance sheet and deep local knowledge, we hope to deliver excellent returns to shareholders over time," says Calvo Mawela.
"The MultiChoice Group management team is focused on the growth opportunity across Africa, a market of significant TV consumption by global standards. Pay-TV and connected video remain under-penetrated on the continent compared to many other markets in the world and MCG intends to pursue both these avenues of growth."
Bob van Dijk, Naspers CEO, said "The strength of the company’s leadership team, alongside its compelling content, world-class technological capabilities and attractive financial profile means that it is very well positioned for future growth in an evolving sector on the African continent."
The MultiChoice Group says it creates and showcases unparalleled local content and has access to international content from 8 of the top 10 studios in the United States, including movie and children's content.
The MultiChoice Group is also the continent's largest funder of sport, providing sports offerings and holding major international as well as local sports rights.
The MultiChoice Group employs more than 11 000 people across Africa and indirectly helps with the economic empowerment of more than 20 000 people who are employed by partners and suppliers.
