French media group Canal lists on Johannesburg exchange

The global media and entertainment company Canal has listed on the Johannesburg Stock Exchange, becoming the first French company to join the bourse. The secondary listing, which took effect on Wednesday, provides South African investors with direct, rand-denominated exposure to the multinational group.

Canal, which completed its primary listing on the London Stock Exchange in December 2024, utilized the JSE’s fast-track framework for the inward listing. The company’s shares opened at R58.50. With operations in over 70 countries and approximately 15,000 employees, Canal serves more than 40 million subscribers globally and generates annual revenue of 9 billion euros. Its significant African footprint includes 23 million subscribers across more than 40 countries, where it offers content in over 50 languages. In Europe, it has over 18 million subscribers across 12 countries.

The listing follows Canal’s acquisition of MultiChoice Group, Africa’s leading entertainment platform, which was finalized last year. That acquisition was approved by South Africa’s Competition Commission with conditions, including requirements to deliver net public interest benefits and invest in local content...