PARIS (Reuters) – TotalEnergies plans to transfer its main listing from the Paris stock exchange to that of New York in response to interest from American investors that the group does not find among Europeans, its CEO, Patrick Pouyanné, announced on Friday.
The oil and gas group, which is developing at a sustained pace in renewable energies, does not however plan to change the location of its headquarters.
“It is clear that, in the areas of energy and oil and gas, American shareholders buy the shares and European shareholders do not buy in the same way,” Patrick Pouyanné said at a conference of presentation of TotalEnergies’ first quarter results.
Stating that the group’s board had asked him to work on a possible transfer of the main listing to New York, the CEO added that a decision on this subject should be taken by September.
According to TotalEnergies data, the share of North American shareholders in its capital increased from 30% at the end of 2012 to 40% at the end of 2023, while that of Europeans fell from 51% to 44%.
In an interview published earlier by Bloomberg, Patrick Pouyanné also believed that Europe did not sufficiently support TotalEnergies’ strategy of developing in renewable energies without giving up its oil and gas investments.
(Reporting by Benjamin Mallet, editing by Kate Entringer)
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