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Coca-Cola bottler CCEP to change UK listing category with eye on FTSE 100 inclusion
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Coca-Cola bottler CCEP to change UK listing category with eye on FTSE 100 inclusion
Oct 18, 2024 6:06 AM

Oct 18 (Reuters) - Bottler Coca-Cola Europacific

Partners said on Friday it plans to change its London

stock listing category, in a move that would make the company

potentially eligible for inclusion in the benchmark FTSE 100

index.

In July, Britain's Financial Conduct Authority (FCA) rolled

out the biggest reform of UK listings rules in decades in a bid

to help London compete better with New York and, after Brexit,

with European Union financial centres such as Paris and

Amsterdam.

A new rule merged the previous two-tier standard and more

onerous premium listing segments into a single category, making

it easier for companies to become eligible for inclusion in

London's FTSE indexes.

Coca-Cola Europacific Partners, which is also listed in New

York, Madrid and Amsterdam, has a market value of 32.65 billion

euros ($35.42 billion).

A FTSE 100 listing would make it among the top 30 companies

listed on the index. The FTSE constituents are reviewed every

quarter and the next review will happen in December.

"The transfer would assist in increasing the profile of the

company in the UK and Europe, create the opportunity to improve

the liquidity of its shares traded through UK equity trading

venues and promote its attractiveness to a wider potential

investor base," Coca-Cola Europacific said.

Other companies that have applied to list under the new

regime include e-commerce firm THG, meal delivery

company Deliveroo ( DROOF ) and Oxford Nanopore ( ONTTF ).

The listing overhaul has also set UK's sluggish financial

markets on a path to recovery, with an increasing number of

companies such as online retailer Shein and Applied Nutrition, a

sports nutrition-related business, looking to list in London.

Coca-Cola Europacific, which bottles Coca-Cola, Fanta,

Sprite and Monster drinks in Western Europe, Australia and New

Zealand, has requested that the FCA approve the change in its

listing category with effect from Nov. 15.

($1 = 0.9217 euros)

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