Canal+ shares started trading on the London Stock Exchange at 290 pence, valuing the company at £2.9 billion ($3.66 billion). However, within the first hours of trading, the shares fell by more than 12%, reaching 253.5 pence.

The decision to list Canal+ in London was announced in July and marked an important step for the UK stock market, which has struggled with company departures in recent years. UK Finance Minister Rachel Reeves described the move as a “vote of confidence” in the London market.

Havas shares, debuting on Euronext Amsterdam, rose by 6%, reaching €1.91 per share. Meanwhile, publisher Louis Hachette’s shares on Euronext Growth Paris surged by 17.5%, reaching €1.41.

Vivendi, backed by the Bollore family, completed the spin-off of its assets and continues to trade on Euronext Paris. The company remains part of the CAC40 index but may leave it in the future, as noted by supervisory board chairman Yannick Bollore.