Canal Plus France said Thursday it has filed its registration document with the French stock market regulator AMF in a first step toward an initial public offering of the French pay TV company.

"We are very happy to begin this IPO process for Canal+ France, which will allow institutional and private investors to become shareholders in the leading pay-TV company in mainland France and to take advantage of its prospects for growth," Canal Plus CEO Bertrand Meheut said in a statement.

The success of the IPO remains subject to market conditions and the AMF's approval of the IPO prospectus, Canal Plus France added.

French media conglomerate Lagardere SCA (MMB.FR) has been aiming for the IPO of its 20% stake in Canal Plus France to take place in the second quarter of 2011.

Vivendi SA (VIV.FR) currently owns 100% of the Canal Plus group, which in turns holds 80% of Canal Plus France.

-By Ruth Bender, Dow Jones Newswires; +33 1 4017 1740; ruth.bender@dowjones.com