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Shell considers withdrawing from London Stock Exchange

9 April 2024 20:15 (UTC+04:00)
Shell  considers withdrawing from London Stock Exchange

By Alimat Aliyeva

Shell oil and gas company considers it possible to withdraw from the London Stock Exchange and list in New York, Azernews reports, citing the CEO of the company, Wael Savan, via foreign media outlets.

According to Savan, investors are now underestimating Shell shares. So, he pointed to the gap in the capitalization of Shell ($230 billion) and its competitors, whose shares are traded in New York, Exxon Mobil ($480 billion) and Chevron ($300 billion).

The Telegraph notes that the London Stock Exchange, traditionally popular among oil and gas and mining corporations, has recently been leaving more and more companies in the extractive sector due to the growing interest of investors in the ESG agenda (environment, social sphere and management).

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