Coca-Cola eyes Shanghai listing

Coca-Cola (KO.NYSE), the world’s largest soft drink manufacturer, is in discussions with Chinese officials about the possibility of listing shares in Shanghai as it seeks to increase its presence in the country, Bloomberg reported. While China has the world’s third largest stock market, companies including HSBC Holdings (HBC.NYSE, HSBA.LSE, HSB.Euronext, 0005.HK) are seeking permission to list and raise funds in renminbi. Foreign companies are not yet allowed to sell stock in mainland China. However, the government may approve an international board by the end of June and the first listing could occur as soon as October, according to state media. The Pacific region made up about 14% of Coca-Cola’s US$35 billion in sales in 2010. Meanwhile, the company has been building factories and spending an earmarked US$2 billion in China faster than expected.