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Coca-Cola’s EUR 7 million IPO in Africa will boost lucrative growth

In April 2021, Coca-Cola declared strategies to list its Coca-Cola Beverages Africa stocks within one and a half years

Sakshi K S by Sakshi K S
March 14, 2022
in Brokerage, Funds, Retail, The Global Economics, Top Stories
Reading Time: 2 mins read
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Coca-Cola’s EUR 7 million IPO in Africa will boost lucrative growth

Coca-Cola’s EUR 7 million IPO in Africa will boost lucrative growth

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Atlanta (USA) based Coca-Cola Company could imbibe EUR 7 billion (USD 7.63 billion) when it releases its African bottling operations with an initial public offering (IPO). After it purchased Anheuser-Busch InBev’s share for USD 3.15 billion in 2016, the food and beverages retailer possessed 66.5% of Coca-Cola Beverages Africa (CCBA). The other stakeholder in Coca-Cola Beverages Africa is Gutsche Family Investments, operated by Philipp Gutsche.

Coca-Cola’s African IPO

In April 2021, the food and beverages retailer declared strategies to list its Coca-Cola Beverages Africa stocks within one and a half years, with a primary listing on Euronext Amsterdam and the second listing in Johannesburg.

Coca-Cola Beverages Africa houses 20,000 employees and functions in 14 nations, comprising 40% of the volume of its products retailed in the African geography. Its head office will remain in South Africa. The food and beverages retailer stated that Rothschild & Co would counsel the firm.

President of the African operating unit, Bruno Pietracci, stated that the food and beverages firm views Africa as a chief growth market. Accordingly, the firm will create an individual listing of CCBA as a prospect to serve a broad, supportive, and long-term investor foundation for the overall development of the business.

In January 2022, the retailer possessed a virtual capital markets day to underscore advancement and progressive opportunity to latent investors. Moreover, it contains a strong record of lucrative growth in hard currency and feels justifiable reasons for optimism about future maturity.

The company stated that in recent years, CCBA outdid all the listed Coca-Cola bottlers by the growth of volume, away from the COVID19 affected 2020, and has faith that it can endure this overachievement.

The food and beverages retailer’s glistening soft-drink brands comprise Sprite, Fanta, and Coca-Cola; its coffee, sports, hydration, and tea brands include Costa and Powerade; and its dairy, nutrition, juice, and plant-based beverage brands comprise Simply, Innocent, Minute Maid, and Del Valle.

Reports stated that the initial public offering advisers would comprise Morgan Stanley, Bank of America Corporation, and the Standard Bank Group.

Via: Short URL
Tags: africaCoca-ColaCoca-Cola Beverages Africaipo
Sakshi K S

Sakshi K S

Sakshi is a professional content writer engaging readers with gripping business news stories.

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