Coca-Cola HBC confirms to pursue US listing

Coca-Cola Hellenic Bottling Company S.A. confirmed today its intention to apply for a listing of its shares on the New York Stock Exchange, as previously announced on May 20. CCHBC is currently listed on the Athens Stock Exchange, with secondary listings on the London and Australian Stock Exchanges.

CCHBC also announced that two of its major shareholders, Socomex SA, of the Kar-Tess Group, and The Coca-Cola Company intend to make a secondary offering of up to 13 million shares, representing 5.5%, of CCHBC at the same time as the listing.

Up to 8.3 million shares are expected to be offered by Socomex S.A. and up to 4.7 million shares are expected to be offered by Refreshments Product Services Inc, a subsidiary of The Coca-Cola Company.

As previously communicated, CCHBC has no plans to raise additional equity capital and will not be participating in this offering.

CCHBC managing director Irial Finan said "we anticipate that the development of an active market on the New York Stock Exchange, where most of our peer companies are listed, will benefit all of our shareholders. The Kar-Tess Group companies and The Coca-Cola Company have reiterated their continued commitment to us and have confirmed their intention to remain active and significant shareholders of CCHBC, as anticipated by their shareholders' agreement."

On completion of the offering, assuming the maximum number of shares is sold, the Kar-Tess Group companies will hold approximately 38% of CCHBC's share capital and The Coca-Cola Company will hold approximately 22% of CCHBC's share capital.