Offshore engineering giant TechnipFMC has decided to delist from Euronext Paris after selling approximately 5% of its holding in spin-off firm Technip Energies.
The company said that a single listing on the New York Stock Exchange (NYSE) is more consistent with its strategic refocus and shareholder base, and allows for better alignment with its most appropriate peer set.
Following the partial spin-off of Technip Energies and the progressive selldown of the remaining ownership stake, TechnipFMC has refocused as a pure-play technology and services provider to the traditional and new energies industries. The company will retain a direct stake of approximately 7% of Technip Energies’ share capital.
The holders of TechnipFMC shares traded on Euronext and held through the facilities of Euroclear France will have the option to keep their shares, which they will be able to trade on Euronext Paris until February 17, 2022, and on the NYSE thereafter or participate in a voluntary sales facility until January 31.
