MultiChoice cruises into JSE’s top 40 index
Inclusion means tracker funds will be compelled to buy the shares, which closed at R106.01
MultiChoice Group, the pay-TV business that Naspers handed to shareholders on Wednesday, cruised into the JSE’s top 40 index with a market value of R46.5bn at the close of trade.
"Being included in the index as a brand-new listing is very important for the group," finance chief Tim Jacobs told Business Day. The company’s inclusion in the top 40 means tracker funds will be compelled to buy its shares, 8% of which changed hands on Wednesday.
The share price surged as much as 21% to R115.60, before closing at R106.01, 11% higher than the opening price.
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