Coca-Cola’s 1919 public offering price was $40 per share.
The price was attached to the company’s original public sale of common stock after Ernest Woodruff and his investor group acquired Coca-Cola from the Candler family. The company was reorganized as a Delaware corporation, and its common shares were offered to the public at $40 each in August 1919, around the time of the broader sale completed that September.
The offering was not a modern stock-market debut in every detail. Underwriters and syndicate members handled shares at different stages and prices before reselling them to public investors. That is why historical legal records can mention $35 subscription arrangements even though the public resale price was $40.
The $40 figure became part of Coca-Cola investment lore because the stock later underwent numerous splits and paid dividends for decades. A share bought at the original price would represent many more shares today after splits; estimates of its eventual value vary depending on whether dividends are reinvested.