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Coca Cola Hellenic: Why we choose LSE

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Coca Cola Hellenics Chief Financial Officer Michael Imellos said to Capital.gr that the group will list on the premium market of the LSE, where it hopes to tap more liquidity from investors.

"It is highly likely that we will be included to FTSE 100 index which will give additional impetus to the liquidity of the share, because it will be also monitored by the so called Index tracking funds", he said.

He also mentioned that the 95% of the companys shareholder base consists of foreign institutional investors and only 5% of them are Greeks, and he emphasized that the company never experienced an issue with the participation of foreign investors in the Athens Stock Exchange.

Asked about the timetable of the listings in London the CFO said that the next five to six weeks the company needs to receive the necessary approvals from the Exchange Commissions in London, New York and finally Athens. Then around mid- November the public offer follows, which will be open for about four weeks, meaning until mid- December. Since that by then we will have reached or exceeded 90% , the new parent company of the group will be introduced to the LSE in late December. After that the compulsory acquisition of the remaining percentage comes next and after that the permanent deletions of the Athens Stock Exchange. Finally the shares of the new company will be introduced to the markets of London, New York and Athens.

In a question why the company chose Switzerland, the CFO said that, "there was a series of criteria when we started thinking about it. Theres a fairly stable economic environment is Switzerland, its also one of the markets that we have a commercial presence already while geographically we can acquire an easy access to other markets".

Mr. Imellos underlined that the reason the company choose Switzerland was not lower taxes.

Finally concerning the first reactions of the international investment community he said that it is already evaluated positively considering the size of the group and the activity in many European markets. "We have only positive feedback so far", he said.
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