Overview
- Trading in the company’s ordinary shares on the New York Stock Exchange begins on December 8, 2025, replacing the American Depositary Receipts first used in 1991.
- A Euroclear–DTCC depositary “tunnel” now allows the same share to trade from the Euronext Paris open through the NYSE close, with pricing in euros in Paris and dollars in New York.
- TotalEnergies reiterates that it remains a French-law company headquartered in Paris, with CAC 40 membership and PEA eligibility unchanged.
- U.S. investors now hold about 48% of the company’s capital, up from 33% a decade ago, while European ownership has declined from 45% to 34%.
- Analysts note U.S. oil majors trade at roughly a one‑third valuation premium to European peers, with TotalEnergies at about $145 billion in market value versus more than $300 billion for Chevron.