ECONOMY

Coca-Cola Hellenic to delist from NYSE

Coca-Cola HBC (CCHBC), the world’s No 2 bottler of Coca-Cola Co drinks, plans to delist its shares held in American depositary receipts (ADRs) on the New York Stock Exchange next month, it said on Monday.

The bottler, which moved its tax base from Greece to Switzerland and its primary listing from Athens to London last year, said its ADR program was not contributing much to facilitating trading in its securities, accounting for only about 1.3 percent of total volume in the past 12 months.

“Since our premium listing on the London Stock Exchange on 29 April 2013, the United Kingdom has become the principal trading market for our shares,” CCHBC said in a statement.

The delisting is expected to take effect around the end of July.

[Reuters]

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