(News Bulletin 247) – Listed on the Paris Stock Exchange, Tikehau Capital confirmed in a press release that it could opt for a dual listing in New York. It follows in the footsteps of several European groups.

Tikehau Capital has desires for America. The French asset manager indicated in a press release published this Friday that it was considering “solutions likely to maximize its visibility and the attractiveness of its title and its product offering to shareholders and investors”.

With this in mind, the company listed on the Paris Stock Exchange added that it was considering “a listing or a double listing” to improve “its valuation and the liquidity of its stock” while strengthening “its brand and its presence” in the United States, the benchmark market for alternative asset management.

The company specifies, however, that these reflections remain “preliminary at this stage”. The group, which totaled 47.1 billion euros in assets under management at the end of September, published its press release after its founders, Mathieu Chabran and Antoine Flamarion, had already announced this project to the Financial Times.

“Building a brand takes a lot of time and energy. If you’re going public in the United States, because finance was invented here, it probably makes sense to do it from a brand perspective,” he said. declared to the British daily, Antoine Flamarion, in an interview published Thursday.

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Totalenergies ready for a double listing

Tikehau Capital follows in the footsteps of Totalenergies. The CAC 40 resident announced in the spring a dual listing project in New York, causing a certain stir in the political class, notably among Emmanuel Macron. The oil major wanted to get closer to its shareholder base, with American institutional investors representing almost half (48%) of its capital.

“We are faced with a situation where European shareholders are selling or maintaining their stake, and where American shareholders are buying,” Patrick Pouyanné, the group’s CEO, explained to Bloomberg.

In October, the manager confirmed working on this project, with technical details to be resolved. Patrick Pouyanné had clarified that this initiative would not constitute “a revolution” because it consists of transforming certificates of deposit (ADR), already listed on Wall Street, into ordinary shares.

Snubs in European places

In August, Les Echos reported that the CEO and founder of Teleperformance, Daniel Julien, was considering transferring the company’s listing from Paris to Wall Street if the company’s stock did not recover within 18 months . The company did not wish to comment on this press information.

This attraction of the American market is not limited to French companies. The Financial Times reports that Swiss Landis+Gyr, specialist in energy management solutions, and Italian cable manufacturer Prysmian, Nexans’ big rival, are also studying a dual listing.

That’s not all. Last year, the British semiconductor group Arm inflicted a snub on the London Stock Exchange, preferring to list on Wall Street. It was the same with the German specialist in luxury sandals Birkenstock, which chose New York to the detriment of Frankfurt.

In March 2023, the industrial gas specialist Linde, then the largest company on the German Stock Exchange, chose to leave Frankfurt to remain listed only on Wall Street.