Standard Bank has advised CANAL+ on its secondary inward listing on the Johannesburg Stock Exchange (JSE), a move that allows the company’s shares to trade on both the JSE and the London Stock Exchange while maintaining a single, fully fungible share pool.
Connecting two continents
The transaction, which follows CANAL+’s acquisition of MultiChoice, enables the media group to list in Johannesburg without issuing new shares. This approach is expected to improve liquidity and broaden the company’s shareholder base over time. The listing introduces one of the world’s largest media and entertainment groups to the local market.
According to the company, this secondary listing reinforces its dual-continental approach. It also highlights Johannesburg’s role as a gateway for global companies seeking access to African capital.
Standard Bank acted as Joint Financial Adviser and Transaction Sponsor. The bank’s Head of Equity Capital Markets, Richard Stout, said the deal is a milestone for the JSE and South Africa’s equity capital markets.
“This is a milestone transaction for the JSE and for South Africa’s equity capital markets more broadly,” Stout said. “The listing brings a globally recognised media and entertainment business to the local market, expands the investable universe for domestic investors and reflects continued international confidence in the depth, sophistication and relevance of our exchange.”
Stout added that the transaction highlights Standard Bank’s advisory capabilities in African capital markets.
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Maxime Saada, CEO of CANAL+, said the listing marks the first time a French company has listed in Johannesburg. He described the move as a bridge between Europe and Africa.
“We are proud to become the first French company ever to list in Johannesburg and the only global media and entertainment company listed on the exchange,” Saada said. “Following our listing on the London Stock Exchange 18 months ago, this dual listing reinforces our ambition to be a bridge between Europe and Africa.”
Operating in more than 70 countries and serving over 42 million subscribers, CANAL+ has identified Africa as a strategic growth market. The group has supported this focus with investments in local content, distribution networks and digital platforms.
The company noted that growing connectivity, rising demand for premium and local content, and an expanding digital consumer base continue to create opportunities for media and entertainment providers in the region.
This strategic alignment extends to the group’s capital markets strategy, which now mirrors its operational footprint across the continent. The deal further shows the role of Standard Bank in arranging cross-border equity capital markets activity between international issuers and African exchanges. By securing a dual listing, CANAL+ consolidates its unique position in the global media and entertainment industry, anchoring its dual-continental approach.
