TotalEnergies looking at primary listing in New York, says CEO

By Thomson Reuters Apr 26, 2024 | 7:00 AM

PARIS (Reuters) -French oil major TotalEnergies is “seriously” looking at a possible listing in New York, Chief Executive Patrick Pouyanne told analysts on Friday, to move closer to a majority of U.S.-based shareholders.

The Paris-based company says it has 47% of institutional shareholders in the United States, and 39% of all global shareholders are located there.

“We had a discussion of the board on the matter of U.S. listing and we all agreed that we have to seriously look at it,” said Pouyanne.

The move concerns a primary listing, though it is not clear if the company would continue its listing in Paris.

“U.S. shareholders are buying, European shareholders are not so buying, so we must think of it,” Pouyanne said, adding he planned to report to the board on the issue by September.