MultiChoice soars in debut trading on the JSE

MultiChoice soared 16% in debut trading on the JSE on Wednesday as the pan-African pay-TV company embarks on a new era of independence following a spin-off by technology giant Naspers.

“We are happy with where the share opened and how it is trading,” MultiChoice CFO Tim Jacobs said in an interview at the JSE. “We expect it to settle down in the next three months.” “We have identified about 40-million additional subscribers that could be signed on in the middle-income and mass market,” Jacobs said. About half the company’s current customer base is in SA, but the focus after listing will be to accelerate growth on the rest of the continent, he said.

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