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)