Soft drinks company in discussions with Chinese government officials, according to media report
Coca-Cola is exploring the possibility of a listing in Shanghai, according to a news report out today.
A spokesperson for the soft drinks company was quoted by the Hong Kong Economic Journal as saying it is ‘interested in exploring the opportunity of listing our stock on the Shanghai exchange.’
Geoff Walsh, Coca-Cola’s communications director for the Asia-Pacific region, told the newspaper the company continues ‘to have positive discussions with Chinese government officials as we look at this opportunity.’
Currently, no foreign companies are allowed to list in mainland China, but Chinese authorities are exploring the possibility of opening an international board.
The main benefits of a listing in China for public companies would be access to large local currency reserves and the chance to build their brands in the country’s fast-growing economy.
Coca-Cola is currently vying for market share in the Chinese market and has a $2 bn investment plan for the country. Other companies to express interest in a Shanghai listing include HSBC and NYSE.
