TotalEnergies boss plans primary listing in New York

Could TotalEnergies leave Paris for New York? In any case, this is what its CEO Patrick Pouyanné responded to a question asked Wednesday by Bloomberg. The file is open, in the name of “business and not emotion”. The company's primary listing is currently in Paris, with secondary listings in London and New York.

“We are facing a situation in which European shareholders are sellers or holding steady, while American shareholders are buyers. So what would be most practical for American shareholders? Do they prefer stocks whose primary listing is in New York or Europe? I believe that when you ask the question, you have the answer,” explained Patrick Pouyanné.

The CEO nevertheless quickly dismissed the idea of ​​moving the company's headquarters. It would not be the first large group to be headquartered in Paris, with a main listing in another country.

Also readClimate: Is TotalEnergies doing less than the other majors?

With his remarks Patrick Pouyanné targets both his detractors, climate defenders, and French policy towards energy companies. TotalEnergies' strategy is based on the development of its gas activities, a reduction in its exposure to oil and investments, to the tune of $5 billion per year, in renewable energies. With significant investment needs, the group insists on the need to have a stable and committed shareholder base. However, in France, TotalEnergies shares cannot be included in an investment fund that claims to have the ISR (Socially Responsible Investment) label, which deprives the group of access to this capital.

Although the group denies it, the exit of its boss echoes the declarations of Bruno Le Maire on the possible taxation of share buybacks. Last year the company's stock repurchases totaled $9 billion.