(News Bulletin 247) – Patrick Pouyanné declared during the Doha economic forum that his company, which plans to transfer its main listing to New York, will not abandon the Parisian market.
Totalenergies will remain listed on the Paris Stock Exchange, its CEO Patrick Pouyanné declared on Wednesday, after having mentioned at the end of April a possible transfer to New York of the main listing of the French group.
During the presentation of the group’s results on April 26, Patrick Pouyanné said that Totalenergies was “seriously” considering transferring its main listing from the Paris Stock Exchange to that of New York in response to interest from American investors that the group is not finding not among Europeans.
He added that a decision should be made by September.
“We never said that we were going to leave France,” said the CEO of Totalenergies on Wednesday during a round table at the Qatar Economic Forum in Doha.
A question of business not politics
“I repeat, we are going to stay in France, we are going to be listed in France. The question is: can we better offer certain shares to our American shareholders?”, he continued.
“We have more and more American shareholders and we have fewer European shareholders, including French shareholders, perhaps because of all the debates around ESG,” added Patrick Pouyanné, in reference environmental, social and corporate governance criteria.
“That’s the reality. And we also see quite a different valuation between the American markets and the European market.”
“And once again, it’s not a question of politics, it’s a question of business. And I’m happy to see that the entire French political class wants to keep Totalenergies.”
(With Reuters)
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