Bottles of Coca-Cola displayed on store shelf, highlighting preparations for Africa bottling company’s IPO next year.
Beverages giant Coca-Cola is gearing up for the initial public offering of its African bottling arm, Coca-Cola Beverages Africa, next year. The company could seek an $8 billion valuation although this might change as deliberations progress. The company had initially planned to go public in 2022 at a valuation of $3 billion but unfavorable market conditions, arising from the Russia-Ukraine war, resulted in a years-long delay that could end next year. If things go to plan, there will be a dual listing with the primary listing slated to take place in Amsterdam and the secondary listing taking place in Johannesburg.
SOURCE: BLOOMBERG