Coca-Cola Europacific Partners PLC - Uxbridge, London-based bottling company and beverage distributor for Coca-Cola Co in 31 European and Asian-Pacific countries - Gives notice to change its share listing category in London to Equity Shares (Commercial Companies) from Equities Shares (Transition), following new listing rules published by the UK Financial Conduct Authority back in July.
The new listing category means Coca-Cola EP will be eligible for inclusion in FTSE UK indices. With a market capitalisation of $35.26 billion, Coca-Cola EP would go straight into the FTSE 100 at the next quarterly review in December, joining fellow bottler Coca-Cola HBC AG, whose market cap is less than half that at £10.15 billion. The transfer of category does not require shareholder approval and is expected to take place on November 15.
Coca-Cola EP was formed in 2016 from the merger of three Coca-Cola bottlers, making it the world’s largest Coca-Cola bottler by revenue. It listed on the London Main Market in 2019, and significantly increased in size with the acquisition in 2021 of Sydney-based, Asia-focused Coca-Cola Amatil Ltd, changing its name from Coca-Cola European Partners at that time. The company will remain listed on Nasdaq in New York, Euronext Amsterdam, and on four exchanges in Spain. It plans to move its London shares to a sterling quote from euro, effective from Monday next week.
‘The company believes that, given the enlarged size of the company since its formation, the transfer would assist in increasing the profile of the company in the UK & 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,’ it explains.
Current stock price: €73.00, up 3.6% in London on Friday
12-month change: up 32%
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