Ordinary shares in the company were admitted to trading on the main market of the LSE this morning (28 March) and will be delisted from Euronext London tomorrow to ensure continuous admission to the Official List of the UK Listing Authority.
Commenting on the listing, chief executive Damian Gammell said: “The formation of CCEP was always about a bigger and bolder vision beyond the merger. We feel this is the perfect time to move our UK listing to London Stock Exchange.
“We have a solid track record and we operate in the large and growing western European non-alcoholic ready to drink market, where we have a leading position with the world’s best brands.”
CCEP’s admission to the LSE will not impact the listing of the Shares on the New York Stock Exchange Euronext Amsterdam or the Spanish stock exchanges.
Nikhil Rathi, chief executive at the LSE said the decision to list on the main market would enhance liquidity and investor access.
CCEP chief finance officer Nik Jhangiani added: “By joining Europe’s leading stock exchange, we seek to increase visibility of our story alongside improving market access for investors, thereby enhancing liquidity.”
Now into its fourth year since Coca-Cola Enterprises merger with its German subsidiary and Coca-Cola Iberian Partners, CCEP generated sales of €11.5bn (£9.8bn) last year with an operating profit of €1.6 bn (£1.3bn), operating across 13 countries in western Europe.
Last year the company made a series of sustainability commitments, including investment pledges with two companies working towards making polyethylene terephthalate waste easier to recycle, as part of its promise make at least 50% of all its bottles from recycled materials by 2030.