Multichoice to list on JSE on February 27

Multichoice to list on JSE on February 27

The Multichoice banner stands during a press briefing at Multichoice Headquarters in Randburg, Johannesburg on 31 December 2018. Picture: Yeshiel Panchia

Naspers says it plans to unbundle the shares it holds in the company to its shareholders.

Broadcasting company MultiChoice said on Monday it would list on the Johannesburg Stock Exchange on February 27.

Parent company Naspers said last September it planned to list MultiChoice separately on the securities exchange and unbundle the shares it held in the company to Naspers shareholders.

Naspers has evolved in recent years into two distinct business lines: a high-growth global internet business with international focus and a cash-generative, African video entertainment business.

It said that given their divergent paths and that there were no synergies between them, there was no longer a strategic rationale for keeping both business lines together.

The unbundling and listing will result in Naspers shareholders holding a direct interest in MultiChoice rather than holding that interest through Naspers.

– African News Agency

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