A great step forward
This year, we took the landmark decision to separately list and unbundle our Video Entertainment business. This step unlocked considerable value for shareholders and allows MultiChoice Group to excel as Africa’s leading entertainment business. It also enables us to focus even more intensely on fulfilling our purpose and ambitions as a pure global consumer internet company.
A new era
On 27 February 2019, MultiChoice Group was successfully listed on the JSE Limited in South Africa, to the traditional sound of the kudu horn. This marked the beginning of a new era for MultiChoice Group, our former Video Entertainment business, and for Naspers.
As part of Naspers, the business grew to become Africa’s video-entertainment leader with around 14 million subscribers across the continent. A profitable cash-generative business offering an unmatched selection of local and original content as well as world-class sport coverage. It is a classic example of our approach in action – building leading companies that improve the daily lives of the millions of people who use their products and services.
As a standalone company, MultiChoice Group is now well positioned to capture the significant growth opportunities offered by Africa’s ascendance.
Unlocking considerable value
The unbundling unlocks the value we have created in MultiChoice Group for our shareholders. We were also very pleased to be able to create further value for Phuthuma Nathi (PN) shareholders who, through MultiChoice South Africa (MCSA), had already participated in one of South Africa’s most successful empowerment schemes. PN shareholders were allocated an additional 5% stake in the issued share capital of MCSA for no consideration. As a result, PN shareholders’ indirect interest in MCSA has increased from 20% to 25%, which will increase their share of dividend flows by 25%.
The unbundling completed the transformation of Naspers to a pure global consumer internet company, with effectively 100% of our revenues and profits now coming from online. Now we can focus our energy and experience, our talent and resources, our hearts and minds on building leading technology companies and identifying new waves of growth to create value by improving people’s lives around the world.
Not just for our shareholders, but for everyone who works in our companies, the many millions of people who use our products and services, their communities and society at large.