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TotalEnergies says it is examining cross-listing shares in U.S

Published 05/24/2024, 09:57 AM
Updated 05/24/2024, 10:01 AM
© Reuters. FILE PHOTO: A logo of TotalEnergies is seen at an electric vehicle fuelling station in the La Defense business district in Courbevoie near Paris, France, February 8, 2023. REUTERS/Sarah Meyssonnier/File Photo
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PARIS (Reuters) - TotalEnergies (EPA:TTEF) said on Friday that it is studying plans to cross-list its shares in the United States, while also keeping its shares on the Euronext stock exchange.

"It's more a technical study, how to offer these shares to the American market, while keeping our shares on Euronext, in Paris, in London, in Brussels, because the majority of our shareholders are European," Chairman and Chief Executive Patrick Pouyanne told the company's annual shareholder meeting.

© Reuters. FILE PHOTO: A logo of TotalEnergies is seen at an electric vehicle fuelling station in the La Defense business district in Courbevoie near Paris, France, February 8, 2023. REUTERS/Sarah Meyssonnier/File Photo

"We'd like to do a cross-listing," he added.

Pouyanne said in April that TotalEnergies was "seriously" looking at a possible primary listing in New York to ensure easier access for U.S. investors, adding he would report back to the board by September. He has also pledged that the company would continue to be listed on the Paris stock market.

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