Johannesburg, South Africa, Jan 23 – MultiChoice Group Limited (MCG) released its pre-listing statement ahead of the company going public in February.
MCG Chief Executive Officer Calvo Mawela said the listing of MultiChoice provides an excellent opportunity to invest in the leading provider of video entertainment on the African continent.
“With strong financials, the flexibility of an ungeared balance sheet and deep local knowledge, we hope to deliver excellent returns to shareholders over time,” said Mawela.
He said the group is focused on the growth opportunity across Africa.
“Pay-TV and Connected Video remain under-penetrated on the continent compared to many other markets in the world and MCG intends to pursue both these avenues of growth,” added Mawela.
Multichoice provides multi-channel digital satellite and pay-television destination to its 14 million customers and through its flagship product brand, DStv, the company delivers local and international content to millions of households across Africa.
Naspers Chief Executive Bob van Dijk, said the strength of the company’s leadership team, alongside its compelling content, world-class technological capabilities and attractive financial profile means that it is very well positioned for future growth in an evolving sector on the African continent.