JOHANNESBURG – 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 holds 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 says given their divergent paths, there is no longer a strategic rationale for keeping both business lines together and there are no synergies between them.
The unbundling and listing will result in Naspers shareholders holding a direct interest in MultiChoice rather than holding that interest through Naspers.
In other news, MultiChoice has released an updated price list for DStv subscriptions for 2019 with packages getting an increase.
Multichoice said in a statement: “DStv has announced that it will be adjusting some of the prices of its subscription packages from 1 April 2019. However, Africa’s leading video entertainment company has managed to keep the average increase below consumer inflation levels."
African News Agency (ANA), BUSINESS REPORT ONLINE