Coca-Cola to Delay IPO of Africa Bottler on Market Turmoil (1)

Coca-Cola Co. delayed the planned initial public offering of part of its stake in an African bottler of its products, saying a rescheduled listing would depend on improved market conditions.

The Atlanta-based soft-drink giant is the latest company to pull back on a sizeable listing as market sentiment continues to worsen. The company set the IPO plan for Coca-Cola Beverages Africa in April 2021, part of its effort to focus resources on brand building and innovation, but is now eyeing an IPO in 2023, according to a statement Tuesday.

Global IPOs have slowed dramatically this year as market volatility fueled ...