Canal+’s London listing comes after years of concerns over the exchange’s lacklustre performance, with firms such as the construction group Ashstead and chipmaker Arm leaving to list overseas. Others have opted to go private.
The London Stock Exchange is set for its worst year for departures since the 2008 Financial crisis, external.
Some 88 companies have delisted or transferred their primary listing from London’s main marker, with only 18 taking their place. This marks the away the biggest net outflow since 2009.
Economists say a thriving stock market is important for boosting the economy because it helps businesses raise money by allowing them to sell shares.
This gives companies the funds they need to borrow and invest in new projects, create jobs, and expand, which in turn drives economic growth.
The Chinese fast fashion giant Shein is also planning to list on the London Stock Exchange in 2025.
Despite the London Stock Exchange’s performance, analysis by the City of London Corporation shows the UK remains the world’s largest net exporter of financial services, surpassing Singapore, Switzerland, and Luxembourg combined.
New figures from the Office for National Statistics reveal a £11.3bn increase in UK financial services net exports in 2023, a 14% rise. The growth was mainly driven by a £5.7bn increase in exports to the US, the largest gain to any single country.
Mr Saada has said the new flexibility in rules for LSE and the UK’s strong creative industry played a role persuading him to choose London.
“We have suddenly aroused a lot of curiosity from American investors, from British investors, from investors all over the world and we don’t think this could have happened by listing anywhere else in the European territory.”
“We have a long history of working with the creative industries here in the UK and that’s also very important to us.”
The flotation is expected to value the firm at up to €6bn (£4.99bn).
Two of Vivendi’s other subsidiaries are also being floated: advertising and communications firm, Havas, will list in Amsterdam and French publisher Louis Hachette in Paris.
But, the Canal+ headquarters will remain in Paris, and the company’s tax will still being paid in France.
The entertainment company released Paddington 3 last month and the film made £9.65 million ($12.4 million) over three days in the UK and Ireland box office.
Mr Saada says Paddington 4 is “certainly not coming tomorrow” but confirmed that the company is working on a follow up and an animated series.
