AUS: Coca-Cola Hellenic to delist from stock exchange

By just-drinks.com editorial team | 2 June 2009

Coca-Cola Hellenic Bottling Co is to delist from the Australian stock exchange due to its low level of trading.

The Greece-based bottler of Coca-Cola Co drinks said today (2 June) that it plans to delist from Australia's stock exchange (ASX) from the end of August. It will continue to trade on the London and Athens exchanges.

"Coca-Cola Hellenic's decision to delist is due to the low level of CHESS Depository Interests (CDIs) now quoted on the ASX and the low level of trading on the ASX compared to the other exchanges," said the group.

"These factors make it unlikely that Coca-Cola Hellenic would seek to raise further equity capital via its ASX listing."

The firm, which has been listed in ASX since 2000, said that removing itself from ASX will cut administrative costs.

Last month, Coca-Cola Hellenic said that net profits for the first three months of 2009 fell by 93% to EUR1.9m (US$2.5m). Profits fell by 74% when excluding restructuring charges.

Sectors: Soft drinks

Companies: Coca-Cola Hellenic Bottling, Coca-Cola Co