TotalEnergies mulls moving listing to Wall St

Steep discount: Pouyanne at a state dinner in Paris. He says TotalEnergies faces challenges from European asset managers using ESG standards to invest in energy companies. — Reuters

Paris: TotalEnergies SE’s chief executive officer has plenty of reasons to antagonise the French government with the possibility of moving its stock listing to Wall Street. Measured in US dollars, there are tens of billions of them.

Investors typically are willing to pay much less for European stocks than those in the United States, and that valuation discount is especially notable in Big Oil: European companies in the industry are 40% cheaper than those across the Atlantic.