Daily Management Review

TotalEnergies considers moving main listing to New York


During the press conference to announce the first quarter's results, the chairman of TotalEnergies' board of directors and chief executive officer Patrick Pouyanne revealed that the French gas and oil company is thinking of relocating its primary listing of shares from Paris to New York, reports MarketWatch.

Mondo79 via flickr
Mondo79 via flickr
The executive stated that the increasing number of U.S. shareholders in the company prompted the board to request that he look into the matter.

"There was a discussion with the board about a U.S. listing and we all agreed that it needs to be seriously considered," Pouyanne stated. "Jean-Pierre Sbraire, the chief financial officer of TotalEnergies, and I are working on it together, and I intend to report back to the board by September."

Pouyanne had earlier expressed disapproval of the concept of delaying the listing because of how difficult it would be to implement politically.

source: marketwatch.com