Naspers to list MultiChoice on JSE
Naspers, one of the largest technology investors in the world, plans to separately list entertainment subsidiary MultiChoice on the Johannesburg Stock Exchange (JSE).
The new publicly listed company is named MultiChoice Group and comprises MultiChoice South Africa, MultiChoice Africa, Showmax Africa and conditional access tech firm Irdeto.
Naspers CEO Bob van Dijk said: “This marks a significant step for the Naspers Group as we continue our evolution into a global consumer internet company. 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.”
The level at which video entertainment has penetrated Africa is quite low, even though it is the fastest growing continent by GDP and population. This is why MultiChoice is being unbundled with limited leverage so it can pursue other opportunities in video entertainment.
This new business aims to offer streaming services online including DSTV Now and Showmax.
Video entertainment CEO Imtiaz Patel declared that: “There are significant growth opportunities for MultiChoice Group in Africa. The combination of MultiChoice’s reach, Showmax and DStv Now’s cutting-edge internet television service, alongside Irdeto’s 360-degree security suite, will provide a unique offering.”
Naspers’ video entertainment business, one of the fastest growing pay TV operators worldwide, entertains about 13.5 million households all over Africa due to its multi-platform structure.