Naspers, one of the largest technology investors in the world, will list it’s pay TV unit MultiChoice on the Johannesburg Stock Exchange (JSE) on February 27.
The company includes MultiChoice South Africa, MultiChoice Africa and Showmax. Naspers originally announced its intention to list last September.
The move means Naspers shareholders will now hold a direct interest in MultiChoice rather than through Africa’s most valuable company.
Naspers CEO Bob van Dijk said: “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.
“With strong financials, the flexibility of an ungeared balance sheet and deep local knowledge, we hope to deliver excellent returns to shareholders over time,” added group CEO Calvo Mawela.