Canal+ listing is ‘vote of confidence’ in UK stock market, says Reeves

TV channel spun off from France's Vivendi could climb to 5bn in biggest new listing in London for two years

Canal+, the international pay-TV company and owner of the studio behind the Paddington film franchise, is to make its multibillion-pound stock market debut in London on Monday, providing a much-needed shot in the arm for the capital's stock exchange.

The flotation, which the chancellor, Rachel Reeves, has said is a vote of confidence" in the UK's capital markets, is set to be the largest new listing in London in two years with some projecting its market value will climb to about 6bn (4.99bn).