MultiChoice Group Limited has released its pre-listing statement in compliance with the JSE’s listings requirements.
The new company will include the likes of MultiChoice South Africa, MultiChoice Africa, and Showmax, and is expected to begin trading on 27 February.
Last year, Naspers announced that it would be listing its video services as a separate business on the JSE.
“Listing MultiChoice Group via an unbundling aims to unlock value for Naspers shareholders and at the same time create an empowered, top 40 JSE-listed African entertainment company,” said Naspers CEO Bob van Dijk.
“With strong financials, the flexibility of an ungeared balance sheet and deep local knowledge, we hope to deliver excellent returns to shareholders over time,” said Group CEO Calvo Mawela.
Naspers’ video entertainment platforms service 13.5 million households across Africa, and earned a trading profit of R6.1 billion in their previous financial year.