When Coca-Cola Hellenic Bottling Co. SA, the world’s second-largest Coca-Cola bottler, quits the Athens stock exchange for London next year, it will leave the Greek market smaller than Vietnam.
The company’s departure will cut the value of equities listed in Athens to about $31 billion from $39.2 billion, data compiled by Bloomberg show. Vietnam is valued at $35.2 billion. Greece’s bourse is already the smallest among 24 developed markets tracked by Bloomberg.
A new company established in Switzerland by one of the bottler’s main shareholders will make a share-exchange offer for Coca-Cola Hellenic and seek a primary listing on the London Stock Exchange, according to an Oct. 11 Athens bourse filing. The move will make it eligible for inclusion in the benchmark FTSE 100 Index and the firm will also seek to list in New York.