MultiChoice Group has listed on the JSE this morning, 27 February 2019.
MCG share prices started at R95 for the company when the market opened at 09:00.
MultiChoice Group CEO Calvo Mawela blew the market’s “kudu horn” to mark the occasion, following JSE representatives stating there was phenomenal interest in the listing.
Mawela said this is a momentous occasion for the company, and its strong financial position will hold it in good stead going forward.
“We are Africa’s best entertainment platform,” said Mawela. “We have the opportunity to grow this business into the future.”
Split from Naspers
Naspers first announced in September 2018 that it would separate its video entertainment business and list it separately on the JSE.
“The new company will be named MultiChoice Group and will include MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto,” said Naspers.
“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.”
Naspers said at the time that its video entertainment business is one of the fastest growing pay-TV operators globally and its multi-platform business entertains 13.5 million households across Africa.