MultiChoice to make JSE debut next month - TechCentral

MultiChoice to make JSE debut next month

Multichoice Africa Group will list in the “broadcasting and entertainment” sector on the main board of the JSE on 27 February 2019, the pay-TV operator said in a statement after markets closed in Johannesburg on Monday.

The listing comes after parent Naspers announced last year that it will unbundle MultiChoice to shareholders — fully divesting itself of its investment in the process — and list the company on the JSE under the share code MCG. MultiChoice owns brands such as DStv, M-Net, SuperSport and Showmax.

In an abridged pre-listing statement published on Monday, MultiChoice said Naspers will distribute 438.8 million shares in the broadcaster to shareholders recorded in Naspers’s securities register on Friday, 1 March.

Shareholders will receive one share for every one Naspers “N” share held and one share for every five Naspers “A” shares held.

A “finalisation announcement will likely be published on 19 February, with the last day to trade in Naspers shares to participate in the unbundling being 26 February.

According to the pre-listing statement, MultiChoice Africa Group generated over R47-billion in revenue in the year ended 31 March 2018. Trading profit was over R6-billion, with core headline earnings of over R1-billion. It grew its subscription base to 13.5 million from 10.4 million in the 2017 financial year.  — © 2019 NewsCentral Media

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