TotalEnergies Explores 'Cross-Listing' In US And Europe - What's Going On?
Nabaparna Bhattacharya 2 years ago
EquitiesNewsMarketsMoversMediaGeneral
TotalEnergies reportedly explores potential cross-listing in the US and Europe, aiming to expand investor access while maintaining presence in European markets.
TotalEnergies SE (NYSE:TTE) shares are trading higher on Friday.
The company is reportedly considering options to cross-list its shares in both the U.S. and the Euronext stock exchange, Reuters reported.
“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 added.
In April, Pouyanne stated TotalEnergies was actively considering a primary listing in New York to facilitate U.S. investor access. He committed to reporting back to the board by September and affirmed the company’s ongoing listing on the Paris stock market.
“We’d like to do a cross-listing,” he added, Reuters noted.
Earlier this month, TotalEnergies and SINOPEC partnered to develop a 230,000 tons/year sustainable aviation fuel unit in a China refinery.
Investors can gain exposure to the stock via First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (NYSE:EIPX) and Keating Active ETF (NASDAQ:KEAT).
Price Action: TTE shares are trading higher by 1.68% to $71.69 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: Comcast Plans $138M Fiber Network Expansion In Utah