The Coca-Cola Company announced today that it is delaying plans to list Coca-Cola Beverages Africa (CCBA) as a publicly traded company.

In April 2021, The Coca-Cola Company first disclosed its intention to sell a portion of its shareholding in CCBA via an initial public offering. The decision is in line with The Coca-Cola Company’s objective of focusing its resources on building consumer-loved brands and innovation.

The announcement said the exact timing would be driven by a number of factors, including macroeconomic conditions.

The Coca-Cola Company will continue to evaluate macroeconomic conditions in deciding future timing for an IPO in 2023. Plans to have an Africa-focused bottler traded as an independent public company remain unchanged.