Coke lowered the price range of its stock offering.

Analysts said Coca-Cola Enterprises lowered the price range to $18 to $21 a share from $21 to $24 to satisfy large institutional investors, who had felt the original price was unjustifiably high. Coca-Cola Co. will retain 49% of the new company, which combines Coca-Cola Co.’s company-owned bottlers and bottling operations recently acquired from Beatrice Cos. and JTL Corp. At the new price range, the offering would raise between $1.29 billion and $1.5 billion.