Canal+ operates in 50 countries and has 27 million subscribers, two thirds of whom are outside of France.

The firm’s London listing comes after years of concerns over the exchange’s lacklustre performance, with companies such as the construction group Ashstead and microchip designer 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 2008-09 financial crisis, external. Some 88 companies have delisted or transferred their primary listing from London’s main market, with only 18 taking their place.

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.

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 (£5bn).