(Bloomberg) -- A week after Coles Group Ltd. debuted on the Australian stock exchange, bears have accumulated 1.24 percent short interest in the stock as a percentage of its equity float as of Nov. 23.
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That compares with 2.41 percent for rival Woolworths Group Ltd., according to Australian Securities and Investments Commission data.
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The two supermarket giants account for about 70 percent of the Australian grocery market. Coles’ return to the stock exchange after being spun off from Wesfarmers Ltd. is reviving a direct Australian supermarket pair trade that hadn’t existed since 2007, when Wesfarmers bought the company.
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