MultiChoice begins trading on JSE at R95.50

Africa’s biggest pay-TV group MultiChoice debuted on the Johannesburg Stock Exchange on Wednesday with shares opening at R95.50, giving the company a market capitalisation of R42 billion ($3.03 billion).

FILE: The MultiChoice offices in Randburg, Johannesburg. Picture: multichoice.co.za

JOHANNESBURG - Africa’s biggest pay-TV group MultiChoice debuted on the Johannesburg Stock Exchange on Wednesday with shares opening at R95.50, giving the company a market capitalisation of R42 billion ($3.03 billion).

Naspers, a local e-commerce giant with a one-third stake in China’s Tencent did not raise any money from the listing of MultiChoice, with the shares instead being spun out to current Naspers shareholders.