Coca-Cola considers a listing in Shanghai

 
City A.M. Reporter
COCA-COLA, the world’s largest soft-drink company, said yesterday it is holding talks with the Chinese government over a possible listing in Shanghai, joining other global firms in testing the waters for a listing in China.

Coca-Cola has said it will commit $2bn (£1.22bn) of investment into China and last October opened three new plants in Inner Mongolia.

The firm’s lemon-and-lime flavour Sprite drink is China’s best selling fizzy beverage.

“We are interested in exploring the opportunity of listing our stock on the Shanghai Stock Exchange,” Geoff Walsh, public affairs and communications director for Asia Pacific of Coca-Cola, said.

“Obviously, we need to better understand the regulatory framework and listing requirements,” he added.

“We continue to have positive discussions with Chinese government officials as we look at this opportunity.”

HSBC, Unilever and Standard Chartered have said they want to list on the international board, which was originally slated to be launched in 2010.

The New York Stock Exchange is working with China to launch the country’s international board that will allow foreign firms to list on the mainland, in a move seen as a crucial step in developing its capital markets.