FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Coca-Cola Sounds Out Banks for India Bottling IPO

By

Coca-Cola is seeking pitches from investment banks for roles on the planned initial public offering of its Indian bottling unit, Hindustan Coca-Cola Beverages, Bloomberg News reported, citing people familiar with the matter.

The company is set to hear presentations in London next week, where Rothschild & Co., its adviser on the transaction, will meet potential banking partners, the report said.

Coca-Cola is targeting a valuation of about $10 billion for the bottling business, according to Bloomberg.

The report added that the offering's timing, size, valuation, and structure are still under consideration and could change.

Coca-Cola did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

SSY Gets China Production Nod for Methocarbamol Tablets, Registers Phloroglucinol Dihydrate

SSY Group (HKG:2005) obtained production and registration approval for Methocarbamol Tablets and registration approval for Phloroglucinol Dihydrate from China's National Medical Products Administration, according to a Thursday Hong Kong bourse filing.The approval for Methocarbamol Tablets came as the drug passed the regulator's consistency evaluation.Methocarbamol Tablets are muscle relaxants mainly used to treat joint and muscle sprains, lumbar muscle strain, and sciatica.Phloroglucinol Dihydrate is used to treat acute spasmodic pain associated with digestive, biliary, urinary, and gynecological conditions.Shares of the firm were up nearly 5% in late morning trade on Thursday.

HKG:2005
Asia

Bellavista Resources Starts Drilling at Canada, Western Australia Projects; Shares Gain 3%

Bellavista Resources (ASX:BVR) started drilling the Pickle Crow gold project in Canada and at its Brumby project in Western Australia, according to a Thursday filing with the Australian bourse.Initial drilling at Pickle Crow for the remainder of the year will assess the open-pit potential on the existing mineral resource of 2.7 million ounces at 7.2 grams per tonne grade of gold, before moving to additional near-surface regional targets in early 2027.At Brumby, the company will assess mineralization continuity for a potential future resource definition drilling program, alongside column leach test work.Bellavista Resources shares gained 3% in recent Thursday trade.

ASX:BVR
Asia

Binastra Unit Bags MYR491 Million Data Center Development Deal

Binastra (KLSE: BNASTRA) unit Binastra Builders secured a 491.2 million ringgit turnkey contract to develop a seven-story data center in Kuala Lumpur, according to a Wednesday Bursa Malaysia filing.The contract, awarded by Exsim Sri Permai, covers the design, construction, testing, commissioning, maintenance and guarantee works, including foundation, substructure, main building and infrastructure works.The project, which also includes a guardhouse, refuse room and electrical substation, is scheduled to begin on July 1 and be completed within 18 months.

KLSE:BNASTRA