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MultiChoice Namibia Expels Possibility Of Stock Exchange Listing

MultiChoice Namibia has ruled out any possibility of listing its business on the Namibia Stock Exchange following the MultiChoice Group’s recent listing on the Johannesburg Stock Exchange (JSE).

51% of MultiChoice Namibia is owned by the country’s ruling party, Swapo, through Kalahari Holdings, with MultiChoice Africa holding 49%.

The Corporate Affairs Manager at MultiChoice Namibia, Levana Cloete told the Windhoek Observer that the MultiChoice Group believes that the proposed structure as a united business with a listing on the JSE is just fine for now.
When questioned on the benefits of the JSE listing to the local business and subscribers, Cloete said that the listing provided an excellent opportunity to invest in the number one provider of video entertainment in Africa.

Cloete added that the company had successfully navigated its way through Namibia’s current economic challenges and was looking forward to future growth.
She said that through MultiChoice’s diverse footprint throughout Namibia the pay-TV operator had successfully navigated its business during the challenging times.  

MCG’s listing has created a public company that provides pay-TV content to approximately 14 million homes in 50 markets in Africa, with content contracts with eight out of 10 leading international studios.

The newly listed company includes MultiChoice Africa Holdings, MultiChoice South Africa, Showmax, Irdeto, and all their affiliates and subsidiaries.

The listing includes the allocation of an extra 5% stake in MultiChoice South Africa for its Phuthuma Nathi shareholders. Phuthuma Nathi, a black economic empowerment initiative, now holds a 25% stake in the South African unit.

Credit: This article originated from www.observer.com.na


 





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