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.
Global IPOs have slowed dramatically this year as market volatility fueled by the war in Ukraine, rising interest rates, a darkening economic growth outlook and roaring inflation all weigh on risk appetite. Several sizable listings have been delayed in recent weeks, with London law firm Mishcon de Reya and FWD Group Holdings, an Asian insurer backed by billionaire Richard Li, among those throwing in the towel.
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