Coca-Cola Beverages Africa (CCBA), major shareholder of Ethiopian Bottling Share Company, to be listed as a publicly traded company in South Africa and Netherlands.
The Coca-Cola Company intends to sell a portion of its shareholding in CCBA through an initial public offering. The decision is in line with The Coca-Cola Company’s objective of focusing its resources on building consumer-loved brands and innovation, according to its latest statement.
The companies intend for an IPO within the next 18 months. "The exact timing will be driven by a number of factors, including macroeconomic conditions. Shares will be listed in Amsterdam and Johannesburg, with Amsterdam being the primary exchange," said the company in its latest statement.
