MultiChoice To Start Trading Its Shares Next Month
This is after Naspers revealed last year that it was planning to list MultiChoice separately on the JSE and, at the same time, unbundle the business’ shares to its shareholders.
In a statement, Naspers has declared that MultiChoice Africa, MultiChoice SA, Showmax and Irdeto and their affiliates and subsidiaries will now be subsidiaries of the MultiChoice Group.
According to the statement, Naspers remains committed to South Africa and will continue to invest and operate in local e-commerce and internet companies, Media24 and online food delivery, as well as Media24.
Naspers has revealed that it has invested over $400mil in the last three years in growing its existing South African businesses through acquisitions and mergers. The internet giant has promised to invest approximately R4.6 billion more in current and new technology companies in South Africa.
The CEO of Naspers, Bob van Dijk said that the MultiChoice Group is a pioneer in video entertainment throughout Africa and that Naspers is very proud to have built the company and turned it into a major success from the year when it was founded more than 30 years ago.
Van Dijk added that this was an exciting time for both Naspers and its shareholders. He said that the unbundling of the MultiChoice Group would complete Naspers' transformation into a worldwide consumer internet company while simultaneously creating an opportunity for its shareholders to own a slice of the MultiChoice Group “cake”.
MultiChoice Group’s CEO, Calvo Mawela commented that the listing of MultiChoice would provide the perfect opportunity to invest in the African continent’s leading provider of video entertainment.
He added that the MultiChoice Group currently delivers a unique local and international content offering to over 14 million households and is one of the most rapidly growing pay-TV broadcast firms globally. Mawela said that with solid financials and in-depth local knowledge, MultiChoice would over time deliver excellent returns to its shareholders.
Credit: This article originated from www.itwebafrica.com