The Coca-Cola Co will issue two shares for each one held next month

The Coca-Cola Co will issue two shares for each one held next month

Shareholders in The Coca-Cola Co have granted approval to the company's proposed stock split.

Coca-Cola confirmed earlier today (10 July) that it has been granted the green light to launch the two-for-one stock split, initially unveiled in April, after a special meeting today. The number of shares available will double from the current 5.6bn to 11.2bn.

The change will take effect on 27 July, with the new shares set to be issued on 10 August.

Since beginning trading in 1919, stock in Coca-Cola has been split ten times – first in 1927 and most recently in 1996. The company's market value currently stands at around US$165bn.