LONDON - French media giant Canal+ SA, known for its global presence in entertainment and telecommunications, has announced the expected completion of its partial demerger and the subsequent admission of its ordinary shares to the Official List of the UK's Financial Conduct Authority (FCA). The shares are also set to begin trading on the London Stock Exchange (LON:LSEG)'s Main Market at 8:00 am London time on December 16, 2024.
This move follows the company's previous disclosures on October 30 and November 15, 2024, regarding the publication of a prospectus and a first supplementary prospectus related to the admission. The second supplementary prospectus, which provides additional information, has been made available on Canal+'s website and can be inspected at the National Storage Mechanism's online repository.
The partial demerger is part of Canal+'s strategic efforts to expand its reach and consolidate its position in the media landscape. The company boasts a significant global footprint, operating directly in 52 countries and generating revenue across 195 nations. With approximately 9,000 employees worldwide, Canal+ has a diverse business model that spans subscription television, advertising-supported channels, content production and distribution, and telecommunication services.
The company, celebrating its 40th anniversary, is recognized as one of the largest media companies in Europe by revenue and subscriber count. It also claims leadership in French-speaking Sub-Saharan Africa and operates one of the world's largest short-form video streaming platforms, Dailymotion.
Canal+'s growth trajectory and the forthcoming listing reflect its balance of exposure to mature and high-growth markets. As of December 2023, Canal+ reported having 26.8 million subscribers globally and a monthly active user base of over 400 million across its over-the-top (OTT) and video streaming platforms.
The partial demerger and listing are subject to the approval of Vivendi (OTC:VIVHY) SE shareholders, which was to be sought at a meeting convened on December 9, 2024. The company has advised shareholders to thoroughly review the prospectus and supplementary prospectuses, emphasizing that the demerger and listing are still pending approvals and not guaranteed.
Barclays (LON:BARC) and BNP Paribas (OTC:BNPQY) are acting as joint sponsors and lead financial advisers for the admission, with several other financial institutions serving as co-advisers and legal advisers to the involved parties.
This information is based on a press release statement from Canal+ SA.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.