The process to transfer Coca-Cola Europacific Partners PLC's (LSE:CCEP, NASDAQ:CCEP) listing was approved last week and means it could be available to join the FTSE 100 in the first index reshuffle of 2025.
Having announced in October its intention to transfer UK listing category, the bottler toasted the approval by the FCA on Friday, analysts at Citi noted.
In order to be eligible for FTSE submission, shares in the world's largest independent bottler must fulfil a liquidity test, whereby at least 0.025% of the company's free float must be traded on UK equity trading venues.
"CCEP could potentially, therefore, be eligible for FTSE consideration ahead of the next quarterly balancing review," said Citi, with the next reshuffle scheduled for December but CCEP likely to be up for the March rejig.
Around 51,000 ordinary shares, or around £3.1 million, will need to be traded per day, calculated on a median basis between November and February 2025 for it to be eligible
CCEP is 36%-owned by chair Sol Daurella Comadrán's Cobega family office firm and its Oliver Partners vehicle, with The Coca Cola Compabny owning 19% of the equity, meaning around 45% is free float.
Although the announcement will not come as a surprise, the Citi analysts said, "it marks continued progression towards increasing its UK liquidity and investor base and should continue to underpin the shares".