Canal+ will list on its second global stock exchange in just a few weeks’ time.
Unveiling its Q1 results today alongside a trading update, the French juggernaut, which just bought African giant MultiChoice, revealed it will list on the Johannesburg Stock Exchange (JSE) in South Africa on June 3, becoming the first French company to do so and “marking an important milestone,” according to CEO Maxime Saada.
The listing “will provide South African investors with the opportunity to invest in a global media and entertainment company,” Canal+ said today, adding that it will “enhance the long-term liquidity and tradability of Canal+ shares” and “fulfil the commitment made to South African Competition Authorities.”
The move is what is termed a “secondary inward listing” as Canal+ also listed on the London Stock Exchange in late 2024, during which time its acquisition of MultiChoice was still in process.
That acquisition completed last summer, at which point Saada confirmed the new group would go public in South Africa while setting out his thinking behind the deal. Since then, Canal+ has shuttered MultiChoice streamer Showmax, describing it as an “expensive failure,” while committing to more synergies.
Today’s Q1 results for the first three months of 2026 were the first to take in the MultiChoice deal, showing a 41% revenue boost to €2.1B ($2.46B) that would have been only a slight increase were it not for MultiChoice. Saada said “MultiChoice revenue continued to decline in line with our expectations.” “First initiatives” of the “MultiChoice turnaround plan have been launched,” Saada said, which includes “recruiting new sales teams” and “strengthening the commercial engine.”
In Europe, revenue slipped slightly to €1.1B but the content, production and distribution biz, which incorporates the likes of Paddington, rose 9% to €172M. Canal+ pointed to the success of Paddington the Musical along with box office hits in France like Guru and Children of the Resistance, while also flagging the acquisition of Italian distributor Lucky Red.
“We have made a solid start to 2026 as we begin the operational execution phase of our strategy,” said Saada. “We continue to deliver cost synergies resulting from the acquisition of MultiChoice, in line with our plans, and we reiterate our full-year 2026 guidance.”
On the London Stock Exchange this morning, shares in Canal+ rose more than 3% to 237p. They had slipped after last month’s annual results.