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.

Coca-Cola HBC, Greece's largest company by market value, is fleeing the epicenter of Europe's sovereign-debt crisis. The Greek market has lost 86 percent of its value since peaking at $273 billion in November 2007 as surging borrowing costs forced the government to accept two European Union-led bailouts. The economy is mired in a fifth straight year of recession, and analysts' forecasts collated by Bloomberg predict further contraction in 2013 and 2014.