TotalEnergies CEO Says NY Listing Plan Is ‘Work in Progress’
- French firm mulls transforming ADRs into shares if feasible
- Energy giant seeks to lure more US investors to boost value
Patrick Pouyanne
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
TotalEnergies SE Chief Executive Officer Patrick Pouyanne said the French energy giant is still working on a plan to list shares in New York, on top of Paris and other European exchanges, in a bid to lure more US investors.
The company’s plan to turn its American depositary receipts into ordinary shares is “work in progress,” Pouyanne said during the firm’s annual investor day in New York Wednesday. The board “supports unanimously” the project, which would probably boost the stock’s liquidity “if it is technically feasible.”