RTTNews | Apr 19, 2021 07:20AM EDT

07:20 Monday, April 19, 2021 (RTTNews.com) - The Coca-Cola Company and Coca-Cola Beverages Africa said they plans to list Coca-Cola Beverages Africa as a publicly traded company. The Coca-Cola Company plans to sell a portion of its shareholding in Coca-Cola Beverages Africa via an initial public offering. The companies plan for an IPO within the next 18 months.

The companies said the IPO will allow Coca-Cola Beverages Africa to operate as an independent, Africa-focused, South African-headquartered, managed and domiciled business.

"The Coca-Cola Company sees Africa as a key growth market and views a separate listing of CCBA as an opportunity to deliver a broad, supportive, long-term investor base for the ongoing development of the business," said Bruno Pietracci, president of the Africa operating unit of The Coca-Cola Company.

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