MultiChoice Group Limited (MCG) today released its pre-listing statement in compliance with the JSE Listings Requirements (www.multichoice.com) providing further details about its listing on the Johannesburg Stock Exchange (JSE).
Trading in MCG shares is expected to commence on the JSE on Wednesday, 27 February 2019. As announced on 17 September 2018, MCG will include, amongst others, MultiChoice Africa, MultiChoice South Africa (MCSA), Showmax, as well as the global digital platform security provider, Irdeto and all their subsidiaries and affiliates (“the Group”).
Calvo Mawela, Group Chief Executive Officer of MCG, said: “We believe the listing of MultiChoice provides an excellent opportunity to invest in the leading provider of video entertainment on the African continent. MCG brings an incomparable local and international content offering to around 14-million households and is one of the fastest growing pay-TV broadcast providers globally. With strong financials, the flexibility of an ungeared balance sheet and deep local knowledge, we hope to deliver excellent returns to shareholders over time”.
The MCG management team is focused on the growth opportunity across Africa, a market of significant TV consumption by global standards. Pay-TV and Connected Video remain under-penetrated on the continent compared to many other markets in the world and MCG intends to pursue both these avenues of growth.
Bob van Dijk, Naspers CEO, said:“MultiChoice Group is a pioneer in video entertainment across Africa and we are extremely proud to have built this company into a major success from the time when it was founded over 30 years ago. The strength of the company’s leadership team, alongside its compelling content, world-class technological capabilities and attractive financial profile means that it is very well positioned for future growth in an evolving sector on the African continent.”
Content as a key driver of growth
MCG plays an important role in making information and entertainment content easily accessible to its customers in Africa. In countries where celebrating culture is an important driver of consumption, MCG creates and showcases unparalleled local content. Access to international content from eight of the top ten US studios, including movie and children’s content, is another key pillar in the Group’s offering and growth plan.
The Group is also the continent’s largest funder of sport, providing leading sports offerings and holding major international as well as local sports rights. With extensive production capabilities for local sports events, the Group is an important partner for many sports federations thus making a major contribution to sports development.
World-class technology and infrastructure
MCG provides consumers with highly advanced, best-in-class technology. Irdeto, a digital platform security provider, is integral in providing cutting-edge security solutions, a key aspect of any pay-TV business. Irdeto also provides security and software services to numerous blue-chip clients globally and, as such, is also a standalone revenue and cash flow generator.
The Group’s development agenda and investments have brought social and economic benefits to the communities across the continent. MCG employs more than 9 000 people across Africa and indirectly creates economic prosperity for more than 20 000 people who are employed by partners and suppliers.