Market affected by tumbling CCHBC

Equities fell yesterday as bottler Coca-Cola HBC (CCHBC) lost more than 8 percent on speculation that one of its main shareholders sold about 1.6 percent of the company at a discount. CCHBC said after the market’s close that its shareholder Kar-Tess Holding SA sold 3.9 million shares to domestic and foreign funds. The shares were placed at 13.50 euros, valuing the transaction at 52.6 million euros. The shares were sold at a discount of about 11.3 percent to Monday’s close of 15.22 euros. «The whole session revolved around CCHBC shares. There was a broader retreat which was affected by weak European bourses,» said Petros Tegopoulos, analyst at Axon Securities. CCHBC – the session’s heaviest traded stock – dropped 8.15 percent to 13.98 euros. The Athens bourse benchmark general index eased 1.33 percent to 1,867.59 points. Turnover was 149.23 million euros on 33.1 million shares traded. Losers beat winners 232 to 102 with 30 shares unchanged on 364 traded. (Reuters)

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