Coca-Cola Seeking Shanghai Listing

Coca-Cola KO is negotiating with the Chinese government to list shares on the Shanghai exchange as it attempts to continue to grow in the country. KO will look to increase spending in China, where the company's Sprite is the top-selling soft drink. “We are interested in exploring the opportunity of listing our stock on the Shanghai Stock Exchange,” Geoff Walsh, Coca-Cola's Hong Kong-based public affairs and communications director for Asia, said in a statement. “We continue to have positive discussions with Chinese government officials as we look at this opportunity.” The move makes complete sense for a company that made approximately 14 percent of its $35 billion in sales last year in the Pacific region. Still, it has a minor battle on its hands as, currently, foreign companies aren't allowed to list in mainland China. The negotiations are to explore the possibility of opening an international board. KO has a $2 billion investment plan for China, as it seeks to enjoy the advantages of access to large local currency reserves and the chance to build the brand in the country. With HSBC and NYSE also looking to list on the Shanghai exchange, there will be plenty of companies watching Coca-Cola's progress with interest.