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On January 18, the Coca-Cola Company plans to talk to investors and analysts about a star performer, bottling company Coca-Cola Beverages Africa (CCBA), in an online “capital markets day.”
And that is very promising for the JSE.
Coca-Cola and CCBA sent out invitations to the event this week without disclosing a direct purpose beyond the wish to brag.
“We look forward to introducing you to our business and the compelling growth opportunities we see across our markets,” said CCBA CEO Jacques Vermeulen in the invitation.
The timing is highly suggestive, though.
The event comes just about nine months after CCBA announced plans for an initial public offering (IPO), with a primary listing in Amsterdam, and the JSE as a secondary listing.
At the time, CCBA said it planned to be publicly listed within 18 months, which would put its deadline in October 2022.
In the meanwhile the pandemic has continued to play havoc with consumer spending, supply chains, and markets, with everything from labour shortages to high levels of inflation affecting large companies — and many have changed course on long-laid plans as new coronavirus variants made for extended periods of uncertainty.
CCBA does not seem overly concerned.
“Over recent years, CCBA outperformed all the listed Coca-Cola bottlers by volume growth, outside of Covid-19 impacted by 2020, and believes it can continue this outperformance,” it said in the invitation.
Online Reporter